Bitcoin at $9,687, $10,000 mark within sight

The value of bitcoins has jumped by 100% in 2017.

On Monday, Bitcoin’s vertical ascent showed no signs of slackening with the digital currency soaring to yet another record high, just short of the $10,000 mark.

The cryptocurrency has gained more than a fifth of its value in the past three days.

Since the beginning of this year, the digital currency has seen its value increase tenfold and its value has more than doubled since the beginning of October.

On Monday, it surged by 4.5% and was seen trading at $9,687 on the Luxembourg-based Bitstamp exchange.

In recent months, the price of bitcoin has been boosted by the announcement that the CME Group, the world’s biggest derivatives exchange operator will start offering bitcoin futures.

Last week, the CME Group stated, the futures would launch by the end of 2017. It hasn’t disclosed the exact date.

“$10k is on the cards and bitcoin seems to be straining at the leash to reach it,” said Charles Hayter, founder of cryptocurrency data analysis website Cryptocompare. “Promises of bitcoin futures opening the door to institutional money are supercharging the price.”

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