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The price of Bitcoin boosts towards $11,000

Daniel Philips


The price of Bitcoin is currently $10,700, up three percent for the day.

The past week has been a typically volatile time for Bitcoin, which has seen its value fluctuate between as high as $11,300 and as low as $9,650 amidst an uneasy market. Recently it had fallen below the $10,000 mark a number of times. But it is now starting to crawl back up towards $11,000.

This has been largely helped by the news of Bakkt gearing up for launch on September 23. Widely seen as a bullish sign for Bitcoin, Bakkt will allow institutional investors to invest in Bitcoin with its physically delivered futures product—while staying compliant with the law.

Additionally, e-commerce giant Rakuten today revealed it has released a mobile app for trading Bitcoin, Ethereum and Bitcoin Cash. This is the first step of a bigger move into the crypto industry.

Bitcoin's growth has also had a knock-on effect on the rest of the market, which is also largely in the green. As it stands, XRP is currently leading the pack with four percent growth in the last 24 hours, while Ethereum, Bitcoin Cash and Litecoin have all seen gains of up to two percent.