{"id":13754,"date":"2017-11-02T17:26:26","date_gmt":"2017-11-02T17:26:26","guid":{"rendered":"http:\/\/www.bnreport.com\/bitcoin-is-closing-in-on-7000\/"},"modified":"2017-11-02T17:26:49","modified_gmt":"2017-11-02T17:26:49","slug":"bitcoin-is-closing-in-on-7000","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoin-is-closing-in-on-7000\/","title":{"rendered":"Bitcoin is closing in on $7,000"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/capture-59fade8023b23-2.png\"\/><\/p>\n<p>Just over 24 hours after it passed the $6,500 mark, bitcoin closed in on another psychologically significant level this morning, edging closer to $7,000.<\/p>\n<p>The cryptocurrency hit $6,971 in early trading, up more than per cent, <a href=\"http:\/\/www.cityam.com\/274949\/bitcoin-price-hits-another-record-all-time-high-and-closing\" rel=\"noreferrer\" target=\"_blank\">as it continued to climb<\/a> following the announcement by US exchange operator CME Group that it will launch Bitcoin futures by the end of this year. <\/p>\n<p>That means the cryptocurrency has now climbed almost 600 per cent since the beginning of the year, when it was just under $1,000. <\/p>\n<p>&quot;With CME announcing on Tuesday that it will launch Bitcoin futures later this year, some scepticism over Bitcoin was rinsed away, consequently boosting its allure to market players,&quot; said Lukman Otunuga, research analyst at FXTM.<\/p>\n<p>&quot;It is simply remarkable how resilient Bitcoin has been in the face of significant negativity\u2026 The price action suggests that bulls have a very firm grip.&quot;<\/p>\n<p>Kathleen Brooks, a research director at City Index, added that the lack of regulation governing bitcoin could be adding to its popularity. <\/p>\n<p>&quot;Bitcoin is not controlled by capricious central banks or government administrations, and in this environment that is an attractive quality to have.&quot;<\/p>\n<p><strong>Read more<\/strong>: <a href=\"http:\/\/www.cityam.com\/274839\/dont-let-bitcoin-bubble-blind-you-wonders-smart-ledger\" rel=\"noreferrer\" target=\"_blank\">Don\u2019t let bitcoin bubbles blind you to the wonders of smart ledger tech<\/a><\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\/\" rel=\"noreferrer\" target=\"_blank\">Let&#039;s block ads!<\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\" rel=\"noreferrer\" target=\"_blank\">(Why?)<\/a><\/p>\n<p><a href=\"http:\/\/www.cityam.com\/275029\/bitcoin-closing-7000\" rel=\"noreferrer\" target=\"_blank\">Original Article<\/a><\/p>\n<div id=\"contfix\">\n<div id=\"contdto\">\n        <img decoding=\"async\" src=\"http:\/\/www.bnreport.com\/wp-content\/uploads\/2017\/11\/latestcb20150503233945-4.jpg\"\/><\/p>\n<h4 id=\"contfixlink\"><a href=\"http:\/\/www.cityam.com\/\" rel=\"noreferrer\" target=\"_blank\">CityAM<\/a><\/h4>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Just over 24 hours after it passed the $6,500 mark, bitcoin ..<\/p>\n","protected":false},"author":1,"featured_media":13755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-13754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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