Bitcoin has been on an incredibly bullish run over the past few weeks, passing $8,000 for the first time on November 19th, at 6pm UTC. The price has been going at it with the $8,000 range for quite some time but did not pass it until recently. This shows that there could be signs of a bullish run continuing as the next few months roll on.
One indicator for the increase in price if the popularity of bitcoin futures. Futures associated with cryptocurrency are something that have the potential to change the market for time to come. One of the first year-long contracts has come out of the LedgerX platform. This will allow investors to by bitcoin at $10,000 by December 28th. The probability is quite high given the LedgerX bet, that the price will reach above that level of $10,000 and hopefully continue to rise.
Now that we are in the $8,000 range, it is only a matter of time before investors hopefully see the $10,000 number in range. Other major futures based companies such as CME, will begin to implement their platforms that will allow investors to purchase futures on their platforms. Coinbase recently announced a new platform known as Coinbase Custody will allow for institutions to store up to $10 million in cryptocurrency.
The chief executive of Coinbase, Brian Armstrong, announced this new platform following the idea that there is over $10 billion in institutional money waiting to be invested in the cryptocurrency space. With the future of cryptocurrency and more specifically bitcoin looking quite bright, it will be interesting to see what happen in the near future. As the coin reaches hopeful new highs, investors will begin to create new ways to get into the market.