Bitcoin: Greed is the main driver at the moment
|Sheer greed is driving the cryptocurrency higher, perhaps to USD 20,000 per coin by Christmas. This would put Bitcoin’s market cap above US$300 billion, one third that of Apple! Bitcoin is unique in history, true, but a correction will likely be very tough.
Two Chicago exchanges, the CBOE and the CME, will soon launch trading of cryptocurrency futures. This signals an impending stampede of institutional investors – many speculators, some hedgers. Just watch the fireworks fly.
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