Bitcoin (BTC) became the subject of increased buying momentum after being under pressure at the beginning of this year. After plummeting to $6,860, the flagship token has rebounded and is currently staring at a 2-month high. $ 9,000. The increase of more than 15% is behind the fundamental improvement.
Bitcoin futures boost BTC
According to Christopher Brookins, founder and CIO of Valienero Digital Assets, Bitcoin was oversold in the fourth quarter. While stabilizing the bottom, Brookkins hopes that the token will continue to rise, driven by the integration of fundamentals and technology.
This The launch of Bitcoin futures The success of the CME Group in the mainstream market is the key foundational development and will continue to support the rise of Bitcoin. This move has once again stimulated people’s hope that it is only a matter of time before tokens enter the mainstream financial field.
Similarly, Bitcoin options provide institutional investors with another way to invest in cryptocurrencies. Options and futures continue to cause excitement in the cryptocurrency market, thus stimulating buying frenzy.Bitcoin options have the following facts Be attracted Since January 7, more than 5,400 transactions have highlighted the strong demand in the market.
JPMorgan Chase warning
In price increase JPMorgan Chase Analyst It is believed that the price of BTC may pull down. According to analysts, cryptocurrencies are still severely overvalued. According to analysts, its fair value is approximately $5,500. JPMorgan analysts have found that the intrinsic value of Bitcoin as a commodity is $5,500, and therefore examines its marginal cost of production.
In contrast, Mike McGlone, a senior commodity analyst at Bloomberg Intelligence, believes that Bitcoin has the necessary conditions to continue to rise after the roller coaster of 2019. According to the analyst, given the fixed supply advantages of digital cryptocurrencies, their numbers will continue to rise. Increasing adoption. Bitcoin should also win the fact that it has become a store of value in mainstream finance and is winning the adoption race.
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