Bitcoin Forum

The upsurge of BTC price goes on. Bitcoin rated $13,200 on CoinMarketCap. This has probably become possible owing to CBOE’s and Gemini’s listing of bitcoin futures.

That announcement caused the market to turn optimistic enough for another all-time high, which is not surprising as CBOE is the largest options exchange in the world. The mere fact that such a giant turned to Bitcoin allows for improving its liquidity and, therefore, a price increase.

More: https://coinidol.com/bitcoin-price-btc-breaks-through-ahead-of-cboe-bitcoin-futures-launch/

https://coinidol.com/upload/resize_cache/iblock/5cb/900_900_1/5cb4bcac7431e0379a684982f73a6761.png

If this is indeed what has been causing the bullish sentiment to extend, then we'll be up for some exciting weeks with how exactly we'll see this market respond to potentially massive shorts on these platforms. There are hundreds of millions to be made if everything is being done correctly by large players, which is one of the main concerns of people thinking that this will not help Bitcoin to the next level, but help it implode. CME however made a statement that they will tame Bitcoin, which I in this stage find too optimistic. Maybe that it may happen in the future, but not in the coming few years, unless exchanges start halting trading at the time the price tanks with more than 10%.

It's mind boggling how things progress right now. Bithumb is climbing towards the $17,000 mark as we speak. It's pure madness! These Korean exchanges are the reason the average price has already broken the $14,000 mark.

I honestly would prefer to not count exchanges that aren't trading strictly in USD when it comes to average price indexes. Bithumb has currently $1.2 billion in daily volume, followed by Bitfinex with $1 billion.

It's hilarious that an exchange having excluded US citizens is still the largest USD exchange, or should I say largest Tether exchange...... I think the latter is more a justification of how things really are with that exchange.