As CFTC and SEC chiefs sounded much to be in support of the Blockchain, the Bitcoin investors had a sigh of relief as the Bitcoin prices saw a surge.
Virtual currencies such as Bitcoin, Ethereum, etc. are currently neither legal nor illegal in India and it is still an unregulated area.
Market analysts believe that the CBOE Exchange listing of Bitcoin futures is the major reason for the surge in Bitcoin price.
The Reserve Bank of India had said that virtual currency trading are done at one’s own risk and the central bank does not license or authorize any company to deal in these digital currencies.
Many of Venezuelans started mining Bitcoin for getting the basic necessities. It has helped people to come out of the poor condition.
CME and the CBOE Futures Exchanges have come up with the self-certification of new contracts for the Bitcoin future products.
There are several countries across the world that are coming forward to recognize cyptocurrency and has already started working on the regulation.
Bitcoin (BTC) surges to an All Time High of USD 10,000, It is to be noted that Bitcoin has surged to an extent of 875% for this year. The currency has been seeing a surge in value for the past month.
Novogratz is a legend in hedge fund and his statement about Bitcoin should be keenly looked into. He believes that Bitcoin has potential.
Bitcoin has reached an all time high of $9,671.84 on Monday. Mainstream Adoption is giving the strong support to Cryptocurrency.