Bitcoin Eases from Record Highs, Bitcoin Futures Also Lower
Investing.com
Published Dec 13, 2017 06:10AM ET
Bitcoin eases from record highs, bitcoin futures also lower
Investing.com -Virtual currency bitcoin was lower on Wednesday, easing back from the previous day’s record highs, while bitcoin futures were also down amid low volumes on the Cboe Futures Exchange.
On the U.S.-based Bitfinex exchange, Bitcoin was at $16,649.00 by 06:03 AM ET (11:03 GMT).
Prices hit a record high of $17,500 on the exchange on Tuesday, extending their gains for the year after starting 2017 at around $1,000.
CBOE bitcoin futures traded down more than 1.5% at $17,780. The contract had soared almost 20% in its Monday debut but trading volumes have since declined.
Larger exchange CME Group (NASDAQ:CME) will begin initial listings of bitcoin futures contracts on December 18.
Bitcoin enthusiasts hope the launch of bitcoin derivatives will allow institutional investors to buy into the digital currency trend, helping establish bitcoin as a legitimate asset class and pave the way for an exchange-traded fund.
Elsewhere in cryptocurrency trading, Bitcoin Cash was last at $1,557, while Bitcoin Gold was at $274.11.
Ethereum, the second most valuable cryptocurrency by market cap after bitcoin, was at $664.93.
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Written By: Investing.com
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