Bitcoin and Ethereum Price Forecast - BTC Prices Push Through $12000

Andrew Cummings
December 6, 2017

Bitcoin climbed above $13,000 Wednesday afternoon after topping $12,000 Tuesday night.

The decision of the CME to open bitcoin futures was first announced before the currency hit its much-anticipated high (now surpassed, as of today at least) of $10,000. According to CoinMarketCap, bitcoin's price rose 9.63 percent in 24 hours and double that, 18.74 percent in the last 7 days. As reported by Business Insider's Oscar Williams-Grut, the bank's market "strat" team polled clients on bitcoin.

Elsewhere in cryptocurrency trading, was last at $1,401.30, while was at $262.38.

Bitcoin is up an eye-popping 1,180% year-to-date.

Finance experts and investors are curious to know how bitcoin would actually fare in the coming year. Bitcoin now has a total market value of almost Dollars 203 billion. It is claimed that bitcoin uses more power than 159 countries including Nigeria and Ireland.

We also await the release of the futures trading in bitcoins from the CME and the CBOE over the next couple of weeks and it remains to be seen what kind of an impact it would have on the market and the prices as such. This development will open bitcoin to a wider range of investors who will be able to trade bitcoin futures. While this is possible, the derivatives can also be used to make profit as an asset loses value. However, if bitcoin continues on up for some time, they can lose their shirt.

Despite a surge in trading and another record high reached on Sunday, Goldmann Sachs boss as accused the currency of being a vehicle to commit fraud and other illegal activities. Such is the speed and the volatility that this appears to be a real possibility at this point of time.

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