Bitcoin price hits two-month high above $ 8,500
Bitcoin price continued to rally this Tuesday and hit a two-month high above $ 8,500.
At approximately 03:30 Moscow time on January 14, Bitcoin broke the resistance of about $ 8,200, which held back its movement for more than a week. At the time of publication, bitcoin is trading above $ 8,500 on Bitstamp and other major cryptocurrency exchanges.
Another jump in the rate occurred a few hours after the successful launch of Bitcoin options on the Chicago Mercantile Exchange (CME).
Chris Zuhlke, head of cryptocurrency trading at Cumberland, is confident that institutional investors need traditional risk management tools to be more comfortable in the cryptocurrency market. “As with any new financial product, we expect volumes to grow naturally as investors get used to trading it,” Zulke said..
Justin Chow, Cumberland Business Development Director, noted that the rise in the price of bitcoin is taking place against the background of the rise in altcoins, namely Bitcoin Cash and Bitcoin SV: “While the launch of BTC options on CME coincided with this movement, altcoins expecting halving in the near future are performing better than others. “.
Bitcoin Cash and Bitcoin SV are up 17% and 76% over the past week, respectively. As a result, Bitcoin SV climbed one more position in the general list of cryptocurrencies, moving Litecoin to seventh place.
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