This latest waves of positive news really bring price to the new level. I haven't seen it though in reaching $8000 yesterday, but today it dances around $7700-$7900. We can be on our way to reach 5 digits before the end of the year. As analyst predicts more financial institution is going to apply or integrate bitcoin in 2018, the price could soar past $15000.
Its a little bit scary though how quickly bitcoin recovered from the bitcoin cash attempt. I hope traders will not have the psychological barrier to sell some of their stash when the price touches $8000 again. Let all wait and see what the future will bring to all of us.
Topic: [2017-11-17] Bitcoin Price Achieves New All-Time High at $8,040; Bigger Surge in (Read 2602 times)
November 17, 2017, 02:01:11 PM
November 17, 2017, 01:48:24 PM
If this continues, it is likely that we will have at least $ 10,000 bitcoin for the New Year, as we predicted earlier. Only here the altcoyins, in all likelihood, will fall again and will be trampled on the spot. This will be especially pronounced before the December fork, when the appearance of a new free bitcoin silver will be expected.
November 17, 2017, 10:17:25 AM
Bitcoin Price Achieves New All-Time High at $8,040; Bigger Surge in December?
The bitcoin price has achieved a new all-time high at $8,040, within a week since it dipped below $5,600 on Sunday. Analysts expect the price of bitcoin to surge even further by the end of 2017, upon the entrance of institutional investors and retail traders through Coinbase, CBOE, Gemini, and CME.
Bitcoin Price Will Likely Surge Again in December
Earlier this week, CME Group announced that it will launch its bitcoin futures exchange approved by the Commodities and Futures Trading Commission (CFTC), to address the increasing demand from institutional investors and retail traders for bitcoin.
Today, on November 17, Coinbase, the largest bitcoin brokerage and wallet platform in the world, introduced Coinbase Custody, another bitcoin trading platform for institutional and retail traders. On Coinbase Custody, large-scale investors can invest a minimum value of $10 million in bitcoin.
Brian Armstrong, the CEO at the $1.6 billion bitcoin startup Coinbase, stated:
“We already store billions of dollars worth of digital assets on behalf of our customers. We serve thousands of institutions via our GDAX product, the leading digital currency exchange in the U.S. We’ve raised $216M from venture capital firms and financial institutions like the NYSE/ICE, USAA, BBVA, Westpac, and MUFG. And we have approximately 200 employees working across our three offices in New York, London, and San Francisco with deep industry knowledge.”
Specifically, Armstrong noted that there exists approximately $10 billion in institutional money on the sidelines “waiting to be invested in digital currency.” If tens of billions of dollars flow into the bitcoin market throughout December and by mid-2018, the market valuation of bitcoin will surge substantially, likely to $200 billion in the short-term.
Many institutional investors and high profile traders have invested in bitcoin over the past 12 months through a handful of investment vehicles including DCG’s GBTC and XBT Provider’s bitcoin exchange-traded note (ETN). Upon the launch of CME and CBOE bitcoin futures exchanges, along with Coinbase Custody, institutional investors will be able to invest in bitcoin with ease, by the end of this year.
Increasing Liquidity of Bitcoin
Already, bitcoin is far more liquid than the most liquid stock on earth in Apple. Bitcoin has a daily trading volume of around $5.8 billion, while Apple’s trading volume remains below $4 billion. Bitcoin’s daily trading volume is close to $6 billion without institutional and retail investors in the space. By December, the daily trading volume of bitcoin will be drastically higher.
In addition to the entrance of investors in the traditional finance sector, the adoption rate of major financial platforms is rapidly increasing. Most recently, $15 billion payments app Square integrated bitcoin into its mobile platform.
The market cap of Square, a major payments app, surges by $1 billion after #bitcoin integration announcement. From $15 billion to $16.1 billion.
Will other major financial platforms follow soon? pic.twitter.com/gjXaIvKRaV
— Joseph Young (@iamjosephyoung) November 16, 2017
Analysts expect more financial platforms to integrate bitcoin in the near future, as the market valuation of companies that have integrated bitcoin soared in a relatively short period. Square for instance, experienced a $1 billion increase in its market cap within a five day period, after integrating bitcoin.
Source: https://www.cryptocoinsnews.com/bitcoin-price-achieves-new-all-time-high-at-8040-expect-to-surge-in-december/
The bitcoin price has achieved a new all-time high at $8,040, within a week since it dipped below $5,600 on Sunday. Analysts expect the price of bitcoin to surge even further by the end of 2017, upon the entrance of institutional investors and retail traders through Coinbase, CBOE, Gemini, and CME.
Bitcoin Price Will Likely Surge Again in December
Earlier this week, CME Group announced that it will launch its bitcoin futures exchange approved by the Commodities and Futures Trading Commission (CFTC), to address the increasing demand from institutional investors and retail traders for bitcoin.
Today, on November 17, Coinbase, the largest bitcoin brokerage and wallet platform in the world, introduced Coinbase Custody, another bitcoin trading platform for institutional and retail traders. On Coinbase Custody, large-scale investors can invest a minimum value of $10 million in bitcoin.
Brian Armstrong, the CEO at the $1.6 billion bitcoin startup Coinbase, stated:
“We already store billions of dollars worth of digital assets on behalf of our customers. We serve thousands of institutions via our GDAX product, the leading digital currency exchange in the U.S. We’ve raised $216M from venture capital firms and financial institutions like the NYSE/ICE, USAA, BBVA, Westpac, and MUFG. And we have approximately 200 employees working across our three offices in New York, London, and San Francisco with deep industry knowledge.”
Specifically, Armstrong noted that there exists approximately $10 billion in institutional money on the sidelines “waiting to be invested in digital currency.” If tens of billions of dollars flow into the bitcoin market throughout December and by mid-2018, the market valuation of bitcoin will surge substantially, likely to $200 billion in the short-term.
Many institutional investors and high profile traders have invested in bitcoin over the past 12 months through a handful of investment vehicles including DCG’s GBTC and XBT Provider’s bitcoin exchange-traded note (ETN). Upon the launch of CME and CBOE bitcoin futures exchanges, along with Coinbase Custody, institutional investors will be able to invest in bitcoin with ease, by the end of this year.
Increasing Liquidity of Bitcoin
Already, bitcoin is far more liquid than the most liquid stock on earth in Apple. Bitcoin has a daily trading volume of around $5.8 billion, while Apple’s trading volume remains below $4 billion. Bitcoin’s daily trading volume is close to $6 billion without institutional and retail investors in the space. By December, the daily trading volume of bitcoin will be drastically higher.
In addition to the entrance of investors in the traditional finance sector, the adoption rate of major financial platforms is rapidly increasing. Most recently, $15 billion payments app Square integrated bitcoin into its mobile platform.
The market cap of Square, a major payments app, surges by $1 billion after #bitcoin integration announcement. From $15 billion to $16.1 billion.
Will other major financial platforms follow soon? pic.twitter.com/gjXaIvKRaV
— Joseph Young (@iamjosephyoung) November 16, 2017
Analysts expect more financial platforms to integrate bitcoin in the near future, as the market valuation of companies that have integrated bitcoin soared in a relatively short period. Square for instance, experienced a $1 billion increase in its market cap within a five day period, after integrating bitcoin.
Source: https://www.cryptocoinsnews.com/bitcoin-price-achieves-new-all-time-high-at-8040-expect-to-surge-in-december/
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