Bitcoin Prices Extend Breathtaking Rally Above $20,000

Bitcoin Prices Extend Breathtaking Rally Above $20,000

© Reuters.  Bitcoin Prices Extend Breathtaking Rally Above $20,000© Reuters. Bitcoin Prices Extend Breathtaking Rally Above $20,000 – The price of the digital currency Bitcoin soared to another record high on Sunday, zooming above the $20,000-level, despite worries about a dangerous bubble and questions about the cryptocurrency’s real value.

, which trades 24 hours a day and seven days a week, climbed as high as $20,029 on the China-based OKCoin exchange, the most in its nine-year history.

That said, there are often significant price differentials on different bitcoin exchanges, but most showed the cryptocurrency well above the $19,000-mark and flirting with the $20K-level.

At current prices, Bitcoin has a total market capitalization of around $330 billion.

Bitcoin investors expect futures volumes to perk up when CME Group (NASDAQ:), the world’s largest derivatives exchange operator, launches its own contract to wager on the cryptocurrency .

The second U.S. bitcoin futures launch is seen as another step towards big institutional investors warming up to a volatile asset that had until recently been accessible only via largely unregulated markets.

Last week, the Chicago-based CBOE Global Markets was the first to launch trading in futures of the cryptocurrency.

Bitcoin, which started 2017 at about $1,000, has risen almost 2,000% so far this year, prompting analysts to warn of a growing asset bubble.

Besides Bitcoin, there are that have enjoyed a remarkable run-up in prices so far this year, such as , , , , and .

Disclaimer:Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.