Bitcoin Goes From $13k to $16k Over Night

All the media attention on bitcoin has turned a lot of heads with everyone suddenly interested in investing since Bitcoin hit $10k.

As South Koreans flood the market buying Bitcoin on Bithumb (Korean exchange) prices soar. Valued at $19k in Korean exchanges by the way.

The Market cap went from $350B to $425B over night in all crypto with 65% being the top dog , Bitcoin.

CBOE a Chicago based company trading futures announced that it will start XBT, futures trading of Bitcoin on December 10th. All XBT futures trading will be free all December as a promotion on CBOE. Many other companies are racing to be able to trade Bitcoin Futures as well.

So this whole time you could only make money if you bought Bitcoin and the value went up, with the Futures Trading of Bitcoin (XBT) now you can bet against the giant (Bitcoin) and make money when it crashes. Now making the one way stream of income into and ocean tide of uncertainty. A step in right direction but maybe at the wrong time.

Seems like a price manipulation can occur with the fat cats betting against Bitcoin. The other side of the coin is that it validates Bitcoin as an investment and legitimizes crypto by stepping into wall street.

Many are saying its a bubble but others are comparing this to the surging prices to early adoption of new decentralized giants like Amazon, Netflix, Uber, and Airbnb. The future of banks doesn't look so good.