Sheer greed is driving the cryptocurrency higher, perhaps to USD 20,000 per coin by Christmas. This would put Bitcoin’s market cap above US$300 billion, one third that of Apple! Bitcoin is unique in history, true, but a correction will likely be very tough.
Two Chicago exchanges, the CBOE and the CME, will soon launch trading of cryptocurrency futures. This signals an impending stampede of institutional investors – many speculators, some hedgers. Just watch the fireworks fly.
This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.