Bitcoin became Parabolic, Crossed $14,000 by $2,500 within a single day

Nishanth Shetty

Nishanth Shetty

December 7, 2017 12:12 pm

Bitcoin became Parabolic, Crossed $14,000 by $2,500 within a single day | Coindelite News
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Bitcoin News

Today Bitcoin has crossed the $14,000 level, crossing out $14, 800 for a $2,800 gain in a single day. This makes today the largest one-day gain in the history of the currency. To put in outlook, today Bitcoin’s price has increased by more twice as much as it’s 2013 all-time high of $1,100. A single Bitcoin can now buy more than 11 ounces of the pure gold.

It’s all about the future

The price seems like it is driven by the news of the which is close to regarding the launch of Bitcoin future trading. CBOE will launch their futures market on this coming Sunday, December 10, with the CME Group after December 18. Nasdaq has been planning to launch the future trading in the summer of 2018 and Japan’s Tokyo Financial Exchange is ready to launch the futures trading as well.

Bloomberg has announced that the brokerage firms TD Ameritrade and Ally Invest will offer the Bitcoin futures trades to their clients. Even the J.P Morgan Chase may follow the suit as well.

GDAX leading

GDAX, Coinbase’s digital currency exchange, has been leading the rally all day. The price on GDAX is currently about $500 ahead of other Western Bitcoin exchanges. The most bullish – explanation is that Coinbase is the easiest way for the new Bitcoin investors to get involved. Accordingly, when GDAX will top the charge as it has today, most probably it means new “retail” investors are boosting the rally.

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