Bitcoin price

Despite all the bad news around cryptocurrencies that raised a bearish trend on the market recently, experts believe that new sky highs are on the way. The Bitcoin price could increase to $50,000, with the cryptocurrency market reaching $1 trillion this year.

The U.S. Commodity Futures Trading Commission has sent subpoenas to the world’s largest cryptocurrency exchanges Bitfinex and Tether as there are significant questions surrounding the value of their tokens.

Bitcoin exchanges in India suffer bad times as the biggest national Banks of the country have frozen their accounts. The news led to turmoil in the domestic market as well as bringing the price of bitcoin down.

The futures markets are in full swing and price action on the Bitcoin trade has garnered a tremendous amount of activity over the past few weeks. The transaction memory pool has become filled with outstanding transactions to confirm. The average amount of transactions per block is close to an all time high. Bitcoins market dominance has dropped from a recent high on December 7th of 64% to now treading above 50% as the altcoin market has exploded this past week.

The launch of CBOE’s futures made the Bitcoin price skyrocket to another all-time high of over $17,700. However, a couple of hours later we have seen a pullback. The price of BTC at the time of writing is $16,964.

Bitcoin price broke through the $15,000 threshold as CME’s launch comes closer.

IOTA is one of the few cryptocurrency that has been able to strengthen against Bitcoin in recent weeks and can be used as hedging against decline the price of Bitcoin. The volume and price of IOTA is growing due to the announcement that IOTA have been listed on Coinone exchange. The more people that begin to trade with IOTA, the better for IOTA.

It seems the market has gone mad. Bitcoin is surging further, reaching all-time highs every day. However, despite such an overwhelmingly bullish uptrend, there are high chances of a significant correction.

In recent days we have seen surges up and down in the Bitcoin price, probably because investors are humans as well, and they were getting ready for Thanksgiving Day.