Bitcoin bursts through $US8,000

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Bitcoin (BTC) demand is ramping up to end the week. A short time ago, the world’s biggest cryptocurrency pushed through $US8,000 for the first time on major trading exchanges.

Here are this week’s moves in BTC on the Bitfinex exchange, via Investing.com:

Prices have steadily rebounded after demand for offshoot bitcoin cash (BCH) skyrocketed over the weekend, which sent BTC falling as low as $US5,600.

Since then though, the BTC juggernaut has rolled on while BCH continues to decline from recent highs.

The latest BTC surge comes amid further regulatory developments in the cryptocurrency market.

Overnight, the CEO of the Chicago Mercantile Exchange (CME) said it would introduce measures to curb volatility once bitcoin futures are up and running.

The follows the announcement earlier this month by CME — the biggest futures clearing exchange in the world — that it would launch bitcoin futures trading before the end of the year.

And the new investment space is attracting increasing attention from institutional investors, with Coinbase — a major US bitcoin exchange — announcing a new security platform in an effort to woo larger hedge funds.

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