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Trading  | November 1, 2017

Amid hopes for more mainstream adoption, thanks to CME launching Bitcoin futures, and expectations of another ‘fork dividend’ as the SegWitzx software update looms, Bitcoin prices have soared above $6600 this morning

It appears traders are rotating out of other cryptos into Bitcoin once again…

Sending Bitcoin above $108 billion market cap and over $6600…

 

Mati Greenspan, an analyst with trading platform eToro, said on Wednesday about CME launching Bitcoin Futures…

“Not only is this a monumental testament to the belief in bitcoin and the demand in the market but it will also boost the liquidity by opening the market to many more interested players.”

There is also speculation that this most recent surge is being driven by another upcoming “fork” in bitcoin’s underlying software. The SegWit2x software update is scheduled for November 16 and could split bitcoin in two, creating a new currency.

This has happened in the past with Bitcoin Cash and Bitcoin Gold, and in those cases, bitcoin holders got those new coins for free.

As a result, investors may be piling into bitcoin in the hopes of a SegWit2x dividend.


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