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Newsflash: Bitcoin Price Peaks at New Record High Near $7450

Newsflash: Bitcoin Price Peaks at New Record High Near $7450

Data from BravenewCoin shows the global average bitcoin price - factoring in various spreads among global markets - reach a new high of $7,419.38.

Bitcoin is surging on Thursday morning, shooting past $7,000 per coin on Thursday morning for the first time ever.

The aggregate value of all cryptocurrencies hit a record high of over $200 billion this week, according to industry website Coinmarketcap, putting their reported market value at more than that of USA banking giant Citigroup.

The decision came after Bitcoin hit record highs this week after CME Group, operator of the world's largest futures and options exchange, said it plans to introduce bitcoin futures by the end of the year. The bullish movement of the cryptocurrency continued through the week after derivatives giant CME group announced that it planned to introduce bitcoin futures contracts (See: CME Group announces launch of Bitcoin futures ).

Estee Lauder Companies, Inc. (The) (NYSE:EL) Under Analyst Spotlight
The Estee Lauder Companies Inc , is a manufacturer and marketer of skin care, makeup, fragrance and hair care products. Timber Hill Llc increased Ulta Beauty Inc (Put) stake by 4,700 shares to 20,500 valued at $5.89 million in 2017Q2.


The futures would be settled via cash and based on its CME CF bitcoin reference rate.

The leading cryptocurrency has doubled in recent weeks and has seen a 9 percent increase in the last 24 hours.

"This is bitcoin crossing the divide from the wild west of finance to the mainstream", Charles Hayter, CEO of cryptocurrency comparison website Crypto Compare, told CNBC in an email Thursday.

The bullish activity that followed CME's announcement also saw the total value of all cryptocurrencies surge past $200 billion for the first time. According to commentators, the product could bring more institutional investors into the market. The market cap of bitcoin alone is more than $124 billion.


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