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Bitcoin Could Touch 14K Before 11th December

Bitcoin Could Touch 14K Before 11th December


Bitcoin smashed another record high of 12K. It appears that the momentum is unstoppable and we do think that the 14K level could reach before the bitcoin futures start trading at the CBOE which is on the 11 December. Principally, investors are thoughtful that when institutional money (hedge funds) will be involved, the chances are that the price would move higher. Large investment funds have not been able to take the piece of the pie yet and that would be their opportunity to get on board.

Bitcoin futures trading on the major stock exchanges would provide more assurance for retail investors that the derivative is trading in a regulatory frame work. This would provide tail wind for bitcoin.

Having said this, it is also important to remember that there are some hedge funds which are waiting for the momentum when futures will start trading and they can short Bitcoin. They are highly interested in this speculative market and cannot wait to take the froth off.

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