Bitcoin Sets New Record as Price Tops $7,000

The price of Bitcoin has been on an absolute tear in the past week, hitting over $7,300 on some exchanges. It has been hypothesized that this massive influx of capital is in anticipation of the upcoming fork, where anyone who holds Bitcoin will find themselves receiving “Bitcoin Gold” for free in an amount commensurate with their holdings before the fork - in other words, free money. The CME futures announcement (see below) is another bullish factor. It’s also (highly) possible that the price rise is primarily fueled by speculative investors, which is a perfect recipe for a bubble. Regardless, it’s amazing to see such a large amount of money flowing into the ecosystem so quickly. 


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