Bitcoin hits another record high ter march towards $20, 000, Reuters

Bitcoin hits another record high in march towards $20, 000, Reuters

Fresh YORK (Reuters) – Supuesto currency bitcoin succesnummer another all-time peak on Tuesday, two days after the launch of the very first everzwijn bitcoin futures on a U.S. exchange and ahead of the embark of another futures contract next week, spil investors grew optimistic that the $20,000-mark is within reach.

On Sunday, Chicago-based derivatives exchange Cboe Completo Markets ( CBOE.O ) launched bitcoin futures, enabling investors to get exposure to the currency via a large, regulated exchange.

The CME Group ( CME.O ) is expected to launch its futures contract on Dec. 17.

&ldquo,Wij&rsquo,re going to see bitcoin emerge spil a payment network,&rdquo, said Trevor Koverko, chief executive officer of Polymath, a securities token podium.

&ldquo,Presently bitcoin is being used spil a speculative asset and store of value. But spil scaling solutions. emerge, bitcoin&rsquo,s utility dramatically increases along with its price,&rdquo, Koverko said.

Bitcoin, the world’s fattest and best-known cryptocurrency, wasgoed quoted at $17,310 on the Luxembourg-based Bitstamp exchange BTC=BTSP, up Five.1 procent on the day. Earlier on Tuesday bitcoin klapper a record high of $17,428.42, registering a harshly 20-fold increase ter its price for the year spil it drew ter millions of fresh investors.

A Reuters technical analysis that measures the ups and downs ter trading prices, known spil sways, demonstrated bullish momentum for bitcoin.

The technical analysis suggests an extension of a wave, which could mean that bitcoin would lightly surge above the psychologically significant level of $20,000, according to the Reuters analysis.

&ldquo,It&rsquo,s remarkable how back ter November $Ten,000 seemed like a psychological end-of-year target,&rdquo, said Lukman Otunuga, research analyst at FXTM. &ldquo,With the current gravity-defying bullish momentum, it may be no verrassing if bitcoin concludes 2018 on $20,000.&rdquo,

But spil bitcoin set a fresh record, digital currency exchange operators Coinbase and Bitfinex reported problems with service through their websites on Tuesday, frustrating traders seeking to specie te on the latest surge te the value of bitcoin and other cryptocurrencies.

The freshly launched one-month bitcoin futures on the Cboe Futures Exchange were slightly tepid, with prices generally sustained and volumes about a third of those seen on Monday. Bitcoin futures maturing ter January XBTF8 were at $Legitimate,450, with just 1,416 contracts traded spil of late afternoon te Fresh York, compared with Three,956 contracts on the very first day.

A total of $26.Four million wasgoed notionally traded so far on Tuesday, compared with around $73 million on Monay.

&ldquo,The trading volume wasgoed massive yesterday spil bitcoin price fluctuated te a broad range overheen the weekend,&rdquo, said Park Nok-sun, a cryptocurrency analyst at NH Investment and Securities ter Seoul.

&ldquo,Now that the exchange price is relatively peaceful, it is evident for futures trading volume to fall.&rdquo,

While market participants are still strongly divided overheen the digital currency&rsquo,s utility, value and safety, they expect the futures contract to suggest a legitimate means for institutions to bet on bitcoin. Some investors even expect the futures will suggest markets an lighter means to take brief positions on the cryptocurrency.

The futures are cash-settled contracts based on the auction price of bitcoin ter U.S. dollars on the Gemini Exchange, which is possessed and operated by supuesto currency entrepreneurs Cameron and Tyler Winklevoss.

Reporting by Gertrude Chavez-Dreyfuss, Extra reporting by Dahee Kim ter Seoul, Editing by Leslie Adler

3 thoughts on “Bitcoin hits another record high ter march towards $20, 000, Reuters”

  1. China still has mij pretty spooked. My hunch is there will be more bad news out of China before the month is out. On the positive side, it’ll most likely be the only source of downward price pressure for awhile. Elsewhere, wij see enlargened adoption and generally a positive regulatory climate.

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