New Bitcoin price high. #Bitcoin

Over the last week Bitcoin was trading in the range of 8 000 USD, however, today, Monday, January 20, BTC has reached its price high 2020, breaking the mark of 8 500 USD. Price showed an increase of more than 6.5%, trading at 17:00 UTC to 8 650 USD.

 

The price increase was triggered by the start of trading bitcoin options traded on the Chicago Mercantile exchange. Translational motion with a small correction periods continued in the following days, when Bitcoin several times was getting closer to 9 000 USD, and only in the night of Sunday, the first cryptocurrency has overcome this psychological barrier, just missing to 9 200 USD. However, at such high positions price did not last long, because already 11:00 UTC Sunday the price went down sharply, dropping at a certain point below 8 500 USD.

 

Lately in the cryptocurrency market were recorded anomalous trends, one of which is the Bitcoin race SV on the 4th place in the ranking of CoinMarketCap. However, analysts Arcane Research believe that the reason for the growth is the sensational event of Craig Wright about getting them access to 1.1 million bitcoins. Experts say - “this hearing has raised the price of all forks of bitcoin, especially BSV, where Wright is the Central figure”.

 

It is worth to note that Bitcoin SV is not a liquid asset, so it is not listed on any popular stock exchange, so to manipulate the price of an asset quite easy and profitable. Last week, Bitcoin SV closed higher by more than 64%.

 

This Monday, there was another event: the Chicago Mercantile exchange (CME Group) has opened a previously announced trading bitcoin options. New instruments are estimated based on CME CF the Bitcoin Reference Rate (BRR) — the reference rate of bitcoin against the US dollar, drawn up according to the spot exchanges Bitstamp, Coinbase, itBit, Kraken and Gemini. Also, like futures, 1 options contract of European type corresponds to 5 Bitcoin. The minimum price fluctuation is 5 index points corresponding to 25 USD.

 

Thus, today, the CME became a direct competitor to regulated exchange Bakkt, trading options which was launched in December 2019. It is noteworthy that on the first day of trading volume bitcoin options CME exceeded 2 million USD Bakkt failed to achieve such success in more than a month.

20 January, 2020
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