Bitcoin Smashes Past $7,000 For the First Time (cnbc.com)

Posted by msmash on Thursday November 2, 2017 @02:00AM from the new-milestone dept.

A reader shares a report: Bitcoin hit another all-time high Thursday morning, surpassing $7,000 for the first time. The cryptocurrency has had a bullish streak throughout the week following the CME's announcement that it will introduce bitcoin futures contracts. According to data from CoinDesk, the virtual currency reached an all-time high of $7,242.69 at about 7:08 a.m. ET. The jump in price saw the virtual coin rise by more than 7 percent on the day. A surge in the digital coin's value saw the total market value of all cryptocurrencies top $189 billion for the first time Thursday. The market cap of bitcoin alone is currently more than $121 billion, according to data from industry website Coinmarketcap.

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Soo... when is the correction coming? by leonbev · 2017-11-02 02:25 · Score: 4, Interesting

Anyone who's ever studied basic Economics knows that Bitcoin is in a price bubble right now. They real question is... when is that bubble going to pop?
I sure as hell wouldn't want to be the one buying Bitcoin today, though.