The biggest cryptocurrency in the world, in terms of market capitalization, is looking to aim at greater heights just before the year ends as it gears up to hit the $20,000 mark after surging back to the $17,000 this session after dropping significant levels on the most recent selloff.
Analysts are predicting that the Bitcoin, with its current performance, will eventually hit the $20,000 mark just before December ends due to the growing popularity it keeps on gaining more attention and tractions. The digital currency is slowly growing a worldwide following and is looking to capitalize on the end of the holiday to surge further just before the year ends.
According to most analysts, the massive dip which was from the $16,000 to $14,000 was easily recovered it a matter of days and that investors will remain to be vigilant on price volatility and up and coming members will surely push the prices forward.
They are also citing that the miraculous run the Bitcoin had, both with its price and its new holders after the Thanksgiving holiday solidified its market dominance leaving most alternative coins in the curb. As of writing, according to the Coindesk’s Bitcoin Price Index, is just trading around $16,743 after hitting a massive $17,000 high on yesterday’s market.
Looking at Bitcoin’s performance yesterday, the digital currency was trading at a massive $17,382.64, beating its previous high which was recorded last December 7 at $17,364.56. This performance is right after the dip and it continues to grow even more today.
One more thing that will propel the Bitcoin’s price is the massive new Bitcoin Futures trading which the Chicago Board Options Exchange which was introduced last week and was officially launched over the weekend. Regarding the launch of Bitcoin’s future, it immediately went ballistic and bullishly ran which managed to hit a 26% increase on its opening day.
US SEC’s Warning
On the bleaker side, a recent note from the U.S. financial regulators showed concerns regarding the safety and security deficiency that the Bitcoin currently have. The US SEC is referring to the massive number of heist and hacking that the prominent Bitcoin companies had over the past month and draws a strong conclusion on its overall safety levels.
According to the US Securities and Exchange Commission’s chair Jay Clayton, “A number of concerns have been raised regarding the cryptocurrency and ICO markets, including that, as they are currently operating, there is substantially less investor protection than in our traditional securities markets, with correspondingly greater opportunities for fraud and manipulation,”
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