As of November 27th, bitcoin price achieved a new all-time high for the second time in the past 24 hours, surpassing $9,771 and moving closer towards $10,000.
Yesterday, on November 26th, CNN noted that the price of Bitcoin saw a new all-time high at $9,060. Within 24 hours, the price of Bitcoin increased from $9,060 to $9,771, by nearly $700 overnight.
Since then, bitcoin price has stabilized in the $9,550 region. Short-term indicators such as the Moving Average Convergence Divergence (MACD) reveal strong short-term momentum for Bitcoin.
Billionaire investor Mike Novogratz predict that Bitcoin price will surpass $10,000 this year.
The CME Group Bitcoin futures exchange launch is imposing a similar impact that the Bitcoin ETF had on the global Bitcoin market in March. The difference between the March Bitcoin ETF anticipation and the CME Group Bitcoin futures exchange hype is that the latter is guaranteed, given that another Bitcoin options exchange in LedgerX has already been approved and regulated by the US Commodities and Futures Trading Commission (CFTC).
Further, the adoption of Bitcoin as a store of value and as a payment method is increasing at a rapid rate. In countries like Japan, major retailers and businesses like Bic Camera, Peach Airline, and Capsule hotels have already started to accept Bitcoin through strategic partnerships with cryptocurrency exchanges.
If Bitcoin’s current preference as a payment method continues to surge throughout 2018, its price will very likely reach the $10,000 mark.
Featured Image: twitter