Nov 14

New Week Brings Renewed Confidence

As I expected, Bitcoin has rebounded to over $6.550 after dropping below $5,600 over the weekend. Despite the dips, Bitcoin has increase significantly over the past 12 months and will continue it upward climb to new heights.

Bitcoin Price Increases to $6,550 as Market Regains Confidence in Mid-Term Growth

Joseph Young on 14/11/2017
The bitcoin price has increased to over $6,550, after dipping below $5,600 on November 12. Analysts have attributed the recent increase in the price of bitcoin to CME Group’s confirmed launch of its bitcoin futures exchange by the second week of December.

Over the past two months, several high profile investors including billionaire hedge fund legend Mike Novogratz emphasized that a rapidly growing number of institutional and retail investors are preparing to engage in bitcoin and invest in the market.

Most of the large-scale hedge funds and institutional investors can only invest in assets and stores of value with high liquidity, because in most cases, they are required to allocate tens of millions of dollars in minimum.

Source:  Cryptocoins News

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