The price of Bitcoin has just reached a new all time record of $3300. This is a rise of $750 per bitcoin since just ten days ago when the price fell to just $2550 due to fears of the effects of a fork on the original blockchain.
Meanwhile Bitcoin Cash, the result of the fork, is losing the support it had just a few days ago. Bitcoin Cash (BCH) is now trading at just $236 – a whopping 67% less than its record of $726 three days ago.
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There could be a number of reasons for the jump in the price of Bitcoin, other than the apparent reduced threat by BCH. These include the higher chance that SegWit will be implemented soon and the recent adoption of Bitcoin by established financial institutions.
A few days ago we saw an example of this mainstream adoption of Bitcoin when it was revealed that the Chicago Board Options Exchange will soon launch Bitcoin futures. CBOE secured a multi-year exclusive license with Gemini Trust, the Bitcoin exchange created by Tyler and Cameron Winklevoss.
Ed Tilly, CBOE Holdings CEO, commented: “CBOE is not only a home to options, derivatives and the VIX but also ETF innovations and foreign exchange. This makes us the natural choice for the development and trading of bitcoin futures. We very much look forward to responding to the growing interest in cryptocurrencies through the creation of bitcoin futures traded on a regulated derivatives exchange, with the many expected benefits that this brings, including transparency, price discovery, deep liquidity and centralized clearing.”