Bigger Than ‘Black Friday’, Bitcoin Price Heads for $10,000
$BTCUSD, $GBTC, $CME, $CBOE
There is something even bigger than Black Friday or Cyber Monday in our financial world, as cryptocurrency buying has the price of Bitcoin up over $9,400 this Sunday afternoon.
I saw the price reach as high as $9,595.395 in a fast trading market. Bitcoin is currently trading at $9431.5937, +322.39, or 3.54%
The spike over this Thanksgiving Holiday was attributed to surge in the user-base of the largest platform for buying and selling cryptocurrencies in the US. Coinbase grew its user count by 100,000 to 13.1-M from Wednesday to Friday of last week
People are opening up new accounts and buying Bitcoin, the demand is high and holders are not selling yet.
People who have it as a store of value have no reason to sell it as long as strong demand continues, and there are very few ways to use it.
People believe that they cannot spend it, so they are collecting it.
But if you own it you can invest it here in Bitcoin based Real Estate investments.
Bitcoin sales are conducted through popular personal “wallets” such as Coinbase or Gemini.
Investors who seek exposure to the cryptocurrency can also purchase a stock called Greyscale Investments Bitcoin Trust (OTCMKT:GBTC).
“This growth has pushed mainstream institutions to take notice and capitalize,” on analyst wrote Friday. “CME Group, the world’s largest options and futures exchange owner, announced it would offer Bitcoin futures by the end of the year.”
Have a terrific week.
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