Late last year, the cryptocurrency community highly anticipated a surge in bitcoin price after the launch of the bitcoin futures market operated by the Chicago Board Options Exchange (Cboe) and CME Group, two of the largest options exchanges in the global market.
Almost immediately after the entrance of Cboe and CME Group in the cryptocurrency market, the price of bitcoin started to surge rapidly. Within weeks, the price of bitcoin peaked at $19,000, surpassing $24,000 in South Korea.