The Bitcoin value raised by more than 1,000 USD in the past 24 hours and is about to exceed 19,000 USD.
In 2017 Bitcoin is the second most common keyword on Google.
Google, is the most widely used search engine in the world, revealed that Bitcoin was the second most common keyword on its platform during the year 2017.
As demand for Bitcoin by casual investors and retailers increased over the last 12 months, the popularity of Bitcoin products on search engines and social media platforms progressed proportionally.
While current increases in a Bitcoin’s price can be assigned to a variety of factors, the two leading drivers of the Bitcoin price increase were probably the anticipated anticipation of the global financial market of CME’s scheduled futures quotations on December 18 and a high performance of alternative cryptocurrencies last week.
Given the fact that powerful rally crowd cryptocurrencies almost always follow bearish cycles, traders are likely to expect the price of other cryptocurrencies on the market, such as Litecoin, Ethereum, Bitcoin Cash, and Ripple, to drop in the short term, given the recent rise in meteorology values.
While the creator of Litecoin Charlie Lee explained: Every crypto-bull run that I saw was followed by a bear period. The market takes time to consolidate. That is just my 7-year experience. This is how low and how long this will be, TBD. People need to be aware of this possibility and invest responsibly.
The Chicago Exchange Options (CBOE), the world’s largest foreign exchange market, had a successful debut with the listing of Bitcoin futures on December 14th. As such, the global financial market very much anticipates the launch of the CME’s Bitcoin futures just two days today.
At the time of the reports, the commissions are traded on the CBOE with a premium of 500 USD, at nearly 19,000 USD.
Impact of Futures Bitcoin account registration from CME
Last month, significant hedge funds and investment firms, including the 100 billion dollars Man group, formally announced plans to invest in Bitcoin and to engage in the cryptocurrency market after CME futures ended.
Because large-scale speculative funds have minimum investment levels and thresholds of hundreds of millions of dollars, the entry of leading investment firms by the end of the year will result in the sale of dozens of billions of institutional money to the Bitcoin exchange.
Michael Novogratz, a billionaire investor and former Chief Executive Officer of the Citadel, said the massive flow of capital into the cryptocurrency market and global shifts would still drive the value of cryptocurrency, such as Bitcoin in short-term.
This week, buying seemed indiscriminate. The more money put on global markets, the market is moving. Further, Novogratz said.
Peter Brandt, a lifetime trader, and an extremely sociable analyst has expressed optimism about Sunday’s launch of CME’s Bitcoin futures contracts. He signed that:
CME Bitcoin futures agreement to be published on Sunday. The initial contract margin will be north of 45,000 USD.