Bitcoin steals the show

in #bitcoin • 6 years ago

Bitcoin futures in the spotlight

Bitcoin was the hot topic across financial markets on Monday morning after making its debut onto the future markets in style.

The cryptocurrency exploded uncontrollably higher following the launch of futures by Chicago Board Options Exchange (CBOE), forcing the CBOE to halt trading twice in an effort to tame volatility. With the futures listing of Bitcoin, seen among some as another step towards legitimacy, this sentiment has the ability to bolster investor attraction - consequently supporting the upside. From a technical standpoint, Bitcoin staged a remarkable rebound from the $13000 regions last week with prices hovering around $16500 as of writing. A decisive breakout above $16700 may instil bulls with enough inspiration to challenge $17,000 and beyond.

It's remarkable how back in November $10000 seemed like a psychological end of year target. With the current gravity-defying bullish momentum, it may be no surprise if Bitcoin concludes 2017 on $20000.
Source:- Lukman Otunuga
ForexTime (FXTM), www.fxstreet.com
https://www.fxstreet.com/analysis/global-stocks-firm-as-bitcoin-steals-the-show-201712111315

#cryptocurrency #money #investing
6 years ago in #bitcoin by
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