And there is no way, the crypto currency is going to retrace in the nearest future, as the two key events are looming. First, CBOE will be offering Bitcoin futures starting from December, 10.
Second, will present their contracts on December, 18. And we also need to keep in mind that Nasdaq has recently announced the desire to offer them in future without any specific date.
And by December, 10 I’m sure we can see the digital currency nearing $17,000 area. However, we need to be cautious with the further moves.
That will probably be the right time to get on the fence and see what’s going on next. There is a worry that contracts will be trading in an unregulated manner/environment. And there are some speculations there are major institutional players ready to enter the market with huge shorts.
If so, the sell-off may eat out about 30% of the Bitcoin price. Be careful.