Will Bitcoin Repeat its $7400 Increase in 7 days?
Bakkt will officially launch on December 12, and could begin offering Bitcoin futures contracts pending regulatory approval. Interestingly, the CBOE Bitcoin futures went live on Dec 10 2017. When that happened we saw the price of BTC increase $7430.00 in 7 days. Last years price rally has been contributed to retail traders and individual investors globally and not to institutional investors. This year, there are more options becoming available to institutional investors. Bitcoin has experienced a sharp rally in the last quarter of every year since 2013 with the exception of 2014 and experts have suggested BTC is bottoming.
Chart by Tradingview
On a forward looking note, CNBC’s Ran Neuner Claims Bitcoin’s Price Is Set To “Explode”.
Author holds no BTC at time of writing
Smiling Duck