Bitcoin’s Price Has Passed the $13K Zone and It’s Just Getting Started

6th December 2017

Cryptocurrency enthusiasts are thrilled this week as bitcoin’s price is higher than ever before as the digital assets value is around $13,200 per BTC. Global trade volume for bitcoin has gone crazy as exchanges are swapping over $7Bn in trade volume every 24-hours. Since the meteoric price rise, mainstream media and average citizens across the globe are hearing about bitcoin regularly. Currently, bitcoin enthusiasts are waiting for the bitcoin futures to be launched by the major FX exchanges Cboe, and CME group over the next two weeks.

Coinmama’s Weekly Roundup

Cboe Announces Futures Markets Will Launch December 10

This week the largest FX exchange in the U.S. Cboe has announced its bitcoin-based futures contracts will be available on December 10. Many bitcoiners believe the introduction of bitcoin-based derivatives markets will make the price spike even more so than today. The CEO of Cboe is excited about the new futures products saying, “Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure. We are committed to encouraging fairness and liquidity in the bitcoin market. To promote this, we will initially offer XBT futures trading for free.”

CME Group Launches Futures On December 18

Cboe’s competitor the largest FX exchange in the world CME Group will launch their futures offerings tied to the price of bitcoin on December 18. The reference rate used for CME’s bitcoin products will be based on the CME CF Bitcoin Reference Rate (BRR). “We are pleased to bring Bitcoin futures to the market after working closely with the CFTC and market participants to design a regulated offering that will provide investors with transparency, price discovery, and risk transfer capabilities,” explains Terry Duffy, CME Group’s Chairman, and Chief Executive Officer.

Smart Contracts Are Coming to the Bitcoin Network With RSK

This week Rootstock, and RSK Labs the company behind RSK a bitcoin-powered smart contract platform has launched its Mainnet on December 4. The firm claims that 90 percent of the BTC network hashrate will be helping the project move forward. With the inception of RSK, many believe it might be a blow to the Ethereum network as people can now utilize bitcoin for the same technology. “We’re very excited to share the RSK mainnet source code with the community. It’s very important for us to get everyone’s feedback and peer review. The RSK project belongs to the whole ecosystem, and we need to work together to build the Internet of Value over the Bitcoin Network,” explains Sergio Lerner, the Chief Scientist of RSK Labs.

The Bulgarian Business School Varna University of Management Offers Bitcoin Scholarships

This week the Varna University of Management (VUM) has announced a new bitcoin-based scholarship program. Ten students will be able to obtain 1000 EUR credited to BTC for scholarships. “We strongly believe that cryptocurrency is an inevitable technical development that will lead to significant innovation in all aspects of our lives — VUM is an innovative and future-oriented university — Endorsing and integrating bitcoin is a rational choice for us. We are always interested in delivering disruptive technologies in our IT and business programmes, and cryptocurrency is definitely one of them,” VUM details in its press release. VUM will also accept bitcoin for tuition and fees in the near future.

Venezuela Will Release the First Nation State Issued Cryptocurrency Called the “Petro”

Venezuela’s president Nicolás Maduro has revealed the country is in the midst of creating a cryptocurrency backed by the countries commodities reserves. According to Reuters, the cryptocurrency will be backed by oil, diamonds, gold, gasoline, and also be referred to as the “Petro.” “I want to announce that Venezuela is going to implement a new cryptocurrency system based on oil reserves, in order to advance in the area of monetary sovereignty. This will allow us to move towards new forms of international financing for the economic and social development of the country,” explains the country’s leader.

The Verdict

Overall the entire cryptocurrency community is ecstatic about the new price highs. With the futures markets ahead speculators believe the price could easily surpass $14-15K in the near future. Many bitcoin enthusiasts know as of right now they are witnessing history in the making.

Coinmama’s weekly review is always on a mission to find the very best topics of interest being discussed within the digital currency space. Follow us here every week to keep up-to-date with current events concerning Bitcoin, Ethereum, and blockchain technology innovation.

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