January 14, 2020

Bitcoin Strikes Again as Trading Price Hits $8,500

The significant jump occurred between 13th and 14th January – the price changed approximately from $8,100 to $8,500. Bitcoin obtained almost 7.30% over the past seven days as its worth goes on to increase. The movement upwards pushed bitcoin’s market capitalization to $153.2 billion, which is 66.64% of the total crypto market cap.

The successful launch of CME’s futures contracts for BTC as a reason for crypto growth

Only some hours were needed after the launch of Chicago-based derivatives exchange CME’s futures contracts for BTC and BTC significantly started to grow.

According to information, CME outstripped its competitor Bakkt in scope during the first day of trading. CME Group dealt 55 contracts, worth approximately $2.1 million, in its new bitcoin price.

Visible growth of other altcoins

When the main crypto changes, other altcoins feel these alterations in the value as well. Bitcoin SV increased by 22.87%, Bitcoin Cash – 6.46%. Litecoin – 6.46% and Dash – 14.32%. All types of crypto are connected with each other in some way. As per the last news, the leading crypto hits $8,516, which is a two-month maximum. Last time, when bitcoin was traded higher, $8,400 was in November 2019.

Disclaimer

This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.

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