Bitcoin futures overleap $18,000

Bitcoin futures overleap $18,000

On Monday, the world’s craze for cryptocurrencies entered a fresh chapter as bitcoin futures shockingly ascended by one-fifth of their market value at a closely-monitored launch. Meanwhile, Asian equities grew amid optimism as for global surge.

On Sunday, on the Chicago-based CBOE Global Markets exchange the most-traded contract started at $15,460 in New York prior to soaring to a maximum of $18,700 - a 21% jump.

The futures appear to be cash-settled contracts built around the auction price of bitcoin in USD on the Gemini Exchange, owned and run by virtual currency entrepreneurs Cameron as well as Tyler Winklevoss.

Bitcoin has boasted a gravity-defying 15-fold revenue since the beginning of 2017. It managed to attract  institutional interest without a small amount of question marks.

By the way, on Sunday, the acting governor of the Reserve Bank of New Zealand labeled bitcoin as a "typical case" of a market bubble.

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