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Bitcoin hits its all-time high of $12,000

Dec 06, 2017, 6:10 AM EST

The roller-coaster ride for Bitcoin over the past ten days went through a new crest on Wednesday as the cryptocurrency hit its all-time high of $12,000, rising nearly 20% from its value in the last week.  

Analysts attribute the gains in Bitcoin to the scheduled launch of a regulated futures contracts, expected to pump institutional investment in the cryptocurrency, writes Cryptocoins News.

Overall, Bitcoin is trading more than 900% year-to-date despite apprehensions raised by some high-profile critics and investors, including Warren Buffet, who calls this digital currency a “mirage,” notes ABC News.

TAGS: Bitcoin