Bitcoin Surges Past $16K: Will the Bubble Burst?


Cryptocurrency bitcoin soared to $16,777 on Thursday, reaching a market capitalization of $274 billion, according to Bloomberg’s composite of exchanges. That was up from just $10,000 last week, and up some 1,500 percent from the beginning of 2017. The latest price increases have come as bitcoin increasingly has been recognized as a legitimate form of currency. The Commodity Futures Trading Commission last week announced that it would allow the trading of bitcoin derivatives on the CME Group and CBOE Global Market exchanges.

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