The rising price of bitcoin is not a result of one single influence, but rather a confluence of events according to Joshua Ashley Klayman in the Crowdfund Insider article “The Price of Bitcoin Rockets Past $10,000 – Can the Price of Bitcoin Go Higher?”
“The CME and CBOE announcements regarding Bitcoin futures have been interpreted by some as ‘legitimizing’ Bitcoin and possibly signaling that Bitcoin ETFs may not be far off,” she said. “Then, earlier this month, it was announced that LedgerX’s first long-term Bitcoin futures option had pegged Bitcoin at $10,000 – which was then about 30% higher than the price of Bitcoin. As reported by Coindesk, the buyers purchasing that option would be making a bet that the price of a Bitcoin would exceed $10,000 on December 28, 2018. In some ways, though, the suggestion of Bitcoin being at or above $10,000 may have influenced the market that such a Bitcoin price was possible and reasonable.”
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