Cboe wins race to launch bitcoin futures contract

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Bitcoin's recent price Just before a Coindesk article went to press the price of bitcoin peaked at an astonishing $12,798 well on its way to another thousand dollar leap from $12,000 to $13,000.

The bitcoin offshoot, bitcoin cash, traded slightly lower near $1,470, while digital currency ethereumalso traded slightly lower near $446, according to CoinMarketCap.

As the exchange price has surged, the valuation of all the circulating bitcoins, or as it is called, the market cap of bitcoin reached United States dollars 198 billion (Rs 12.75 lakh crore) on December 3.

Bitcoin's ecosystem, as far as government institutions are concerned, has become a bit of a nuisance when it comes to the legality of things its holders do with the cryptocurrency.

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Elsewhere in cryptocurrency trading, was last at $1,401.30, while was at $262.38. Just one year ago one bitcoin was worth $764. Bitcoin now has a total market value of almost United States dollars 203 billion.

"What's interesting about bitcoin futures is that you'll have the ability to take both sides of bitcoin-it's a two-sided market, you can go long or you can go short", Hagen said. We had mentioned a couple of days back that the break through this region would only be a matter of time. While this is possible, the derivatives can also be used to make profit as an asset loses value.

Ally Invest's support of bitcoin futures is slated to go live on its platform on December 18.

Despite a surge in trading and another record high reached on Sunday, Goldmann Sachs boss as accused the currency of being a vehicle to commit fraud and other illegal activities. The continuing volatility of bitcoin's price will likely limit its use and acceptance as a currency.

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