/ Mac Slavo / November 2nd, 2017

Cryptocurrencies are up 640% this year.  And for the first time, in a record-breaking rally, Bitcoin has blown past $7000 and it isn’t showing signs of slowing down just yet.

Bitcoin climbed past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark. As per CoinMarketCap, bitcoin is up over 20.56 percent for the last 7 days, and its market capitalization has now peaked at over $116 billion.

The digital currency got new impetus this week after CME Group Inc., the world’s largest exchange owner, said it plans to introduce bitcoin futures by the end of the year, citing pent-up demand from clients. Sceptics including Themis Trading say the rally is evidence that the software-created asset is a bubble that should not be given regulatory cover.


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