RATE Group | Bitcoin’s Future Looks Bright for the First Time in 2018
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Bitcoin’s Future Looks Bright for the First Time in 2018

22 Jul Bitcoin’s Future Looks Bright for the First Time in 2018

Posted at 12:17h in Bitcoin News by

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Bitcoin has seen a bombardment of negative publicity and volatility as it’s price plummeted from December highs of almost $20,000 per coin to where it currently sits in the mid $7,000s. However, with this extreme volatility, the trends seemed to have switched this week with many possible catalysts to blame.

A Bright Future Ahead

Catalysts can lead any currency higher. However, in the cryptocurrency market, Bitcoin is the ‘peg’ for other currencies when it comes to trading. BTC also dominates the market cap of the total cryptocurrency space while being the only cryptocurrency futures are traded for through major commodity exchanges like the CBOE. This week saw Bitcoin hover in the low $6,000 range before mysteriously popping to above $7,500.

What Led to this Casual Boost of More than 15% of Bitcoin’s Value?

The catalyst that caused this boost could be related to the SEC’s consideration of the CBOE’s application to buy Bitcoin through ETFs (exchange traded funds). This…

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