In a volatile world, volatility is king and Bitcoin has it. The worlds most popular cryptocurrency has pushed above $12,000 for the first time during a roller coaster ride over the past few weeks. At last glance, Bitcoin was trading at over $12,300. The 24 hour change represents an approximate 5.6% move higher.
So what goes up, must keep going higher? Right?
Not exactly. But supply of Bitcoin is somewhat limited and demand is rather high.
As both BTC options and BTC futures are poised to start trading on established exchanges soon – other trading vehicles will soon follow. The growing number of access points to invest in Bitcoin should help push interest higher. Bitcoin is entering a coming of age period as traditional banking institutions see opportunity to trade in crypto and make money (of course). And while it may seem that everyone around you owns a Bitcoin or two, it still is not widely held. Circulating supply of BTC is just 16,722,775, according to CoinMarketCap – and most people are now purchasing fractions of each coin. Can Bitcoin go higher? Sure. Will it? Who knows. You can always buy some and join the ride.