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Inside Bitcoin

Inside Bitcoin (Nov 29th, 2017)

$BTC (1:33 PM EST): $10,750.90 (6.65%)

90-day high: $11,418.10 // 90-day low: $3,239.15 // More… $BCH (1:33 PM EST): $1,613.34 (-4.90%)

90-day high: $2,050.08// 90-day low: $275.90 // More

$ETH (1:34 PM EST): $494.02 (4.64%)

90-day high: $516.85// 90-day low: $198.72 // More

$LTC (1:42 PM EST): $99.14 (4.80%)

90-day high: $103.48// 90-day low: $37.87 // More

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Bitcoin’s price keeps rising. The digital currency rose more than $1,000 in a 12-hour period, pushing the price above $11,000 per coin on Wednesday morning. The surge comes less than 24 hours after bitcoin first passed the $10,000 barrier. It priced as high as $11,418.10 before falling back below $11,000. Bitcoin was not the only cryptocurrency to thrive. Ethereum hit a new record, trading at $516.85 on Wednesday. Ari Paul, managing partner at BlockTower Capital, remained optimistic that bitcoin has further to rise. “While the pace of the rally is unsustainable and there will inevitably be corrections and crashes over time, it remains 'cheap.," he said. -CNBC

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Nasdaq plans to launch a bitcoin futures product next year. The news comes a little more than a month after Nasdaq CEO Adena Friedman called ICOs 'bleeding edge' and said "Nasdaq doesn’t tend to get engaged in the bleeding edge.' Nasdaq joins two Chicago-based exchanges, CME and Cboe, who have already announced similar products. –BUSINESS INSIDER

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Katy Perry met with Warren Buffett and the pop star asked him his thoughts on cryptocurrency. Perry posted a picture of the meeting on her Instagram account, which has 68 million followers. The post has 134,000 likes as of Wednesday morning. The post did not mention Buffet’s response, although in the past he has labeled bitcoin “a real bubble” and “a mirage” that does not have any real value. -CNBC

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The Turkish government has declared that bitcoin is not accordant with Islam and warned citizens against buying the cryptocurrency. Turkey’s Directorate of Religious Affairs, known as Diyanet, said bitcoin is too often used for nefarious and illegal activities, and without regulation has become incredibly volatile. "Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation, they can be easily used in illegal activities like money laundering and they are not under the state’s audit and surveillance," Diyanet said. Bitcoin has not been authorized for use in the country. -NEWSWEEK

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Bitcoin could easily reach $100,000 per coin in the next decade, Fundstrat’s Tom Lee said, as it creates more “digital trust” among millennials. "[Bitcoin] is valued as if it is a small company today," Lee said "We think over the next 10 years, this new generation of millennials are going to view trust as a replacement for gold. So, bitcoin is essentially digital gold for another generation." Lee is not the only investor that predicts more big things for bitcoin. Noted investor Michael Novogratz recently said he could see bitcoin hit $40,000 per coin by the end of 2018. -CNBC

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The price of ethereum classic has nearly doubled in the past week. The price increase comes ahead of the implementation of the first phase of a new monetary policy into the ethereum classic protocol. Ethereum classic traded at $18 per coin on Friday, it jumped to $26 (a new all-time high) on Tuesday before jumping to $34 per coin on Wednesday as trading volume increased. It is currently the ninth largest cryptocurrency based on market capitalization. –CRYPTOCOINS NEWS

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