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Bitcoin Could Touch 14K Before 11th December
Bitcoin Could Touch 14K Before 11th December
Bitcoin
smashed another record high of 12K. It appears that the
momentum is unstoppable and we do think that the 14K level
could reach before the bitcoin futures start trading at the
CBOE which is on the 11 December. Principally, investors are
thoughtful that when institutional money (hedge funds) will
be involved, the chances are that the price would move
higher. Large investment funds have not been able to take
the piece of the pie yet and that would be their opportunity
to get on board.
Bitcoin futures trading on the major stock exchanges would provide more assurance for retail investors that the derivative is trading in a regulatory frame work. This would provide tail wind for bitcoin.
Having said this, it is also important to remember that there are some hedge funds which are waiting for the momentum when futures will start trading and they can short Bitcoin. They are highly interested in this speculative market and cannot wait to take the froth off.
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