Bitcoin Slumps With New Contracts, Gold Gains – 23 September, 2019

Initial Bitcoin futures contracts hit the market today, causing the digital currency to fall, but the federally regulated market could attract otherwise conservative investors who weren’t ready to jump in. The price of Bitcoin dropped 2.4% to $9,892 earlier in the day, but the largest cryptocurrency is still up 175% this year, stronger than any other asset. The announcement of future contracts helped the digital currency gain 9% at the end of 2017 to a record price of $19,511. In other commodities, gold was on the rise again, heading to its biggest gains in almost three weeks on weak German manufacturing data, rising to as high as $1530.90 per ounce.