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Bitcoin jumps to all-time high after CME announces to launch a regulated trading venue for cryptocurrencies

On the Luxembourg-based Bitstamp exchange, bitcoin jumped to as high as $6,351, up almost 4 percent on the day.

|Oct 31, 2017, 21:35:18 IST

Bitcoin jumped to an all-time high above $6,300 on 31 October, after the world’s largest futures market operator CME Group said it would launch a regulated trading venue for cryptocurrencies in the fourth quarter of 2017.[caption id="attachment_1282979" align="alignleft" width="380"] Reuters

Reuters[/caption]The new futures contracts will be settled in cash, based on the CME ‘CF Bitcoin Reference Rate’, a once-a-day reference rate of the U.S. dollar price of bitcoin, the company said.

The price of bitcoin jumped to as high as $6338.60 according to trade website Coindesk’s price index, which aggregates the prices quoted across several exchanges. That was up from around $6,215 before the news.

On the Luxembourg-based Bitstamp exchange, bitcoin jumped to as high as $6,351, up almost 4 percent on the day. Bitcoin has surged in value by around 555 percent so far this year.

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