- Bitcoin (BTCUSD on xStation5) has almost touched $7000 following an announcement from the CME
- Amazon has registered three new domains related to cryptocurrencies which supports the Bitcoin price as well
- Bitpay will suspend all services during a SegWit2x hard fork
Bitcoin has gone nuts one again as the price has already touched an astounding $7000 following an announcement from the CME (Chicago Mercantile Exchange), the world’s largest options and futures exchange. The company released a report on Tuesday that it would launch trading in Bitcoin futures by the end of the year. Besides, let us recall that at the moment a startup LedgerX is trading Bitcoin swaps and options whereas the CBOE is planning a futures contract by year-end or early 2018 once it gets approval from the Commodity Futures Trading Commission (CFTC), let us notice that the CME also needs the same approval.
Bitcoin keeps rallying following the CME announcement. At the time of writing the cryptocurrency is trading just shy of a round $7000. Source: xStation5
A technical view might be breathtaking when you look at the latest three days. To be precise, the most famous digital currency has gained approximately $1200 over the course of the recent days meaning that a year-to-date rate of return is nearing amazing 650%. Having looked at the chart above one may assume that the price has broken through a notable resistance in form of an upper limit of an upward channel. That said, this level may offer a support for buyers, however once the price breaks $7000 powerful momentum could drive Bitcoin yet higher before any pullbacks come up.
Looking beyond the CME thread, it’s worth paying attention to Amazon as the company has secured of late three new domains related to cryptocurrencies sparking speculations that the e-commerce giant could be preparing a move into the cryptocurrency space. The domains are: amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. The news constituted another boost for the Bitcoin price along with the CME groundbreaking report.
Finally, it’s also worth mentioning that Bitpay, the Atlanta-based company being the world’s largest Bitcoin merchant service provider, has announced its plans for operations during and after the hard fork scheduled to occur when a block no. 494784 emerges. The firm says the company’s top priority is the safety and security of its users. In its statement the firm writes “we will suspend payment acceptance, payment disbursement and debit card reloads approximately 24 hours prior to activation of Segwit2x — we are currently communicating with all of our affected users with preparation instructions.” The possible hard fork is expected to take place on or around 16 November.
While Bitcoin keeps surging, its major peers have lost steam during the latest days. Source: xStation5