Bitcoin Markets Enjoy Best Day of Trading As Prices Spike All Time High

Bitcoin prices have jumped over $800 in one day becoming one of the most successful days ever in the history of the cryptocoin markets. Profiting traders and business, critics were once again silenced by the sheer performance of markets today.

As seen on the graphs below, bitcoin prices exploded considerably over the past day seeing one of their best days. While this week saw prices coast at a humble $9200 point, today saw prices jump from $11000 to $11810. Accounting for a rise of over 6%, bitcoin growth has also fueled other cryptocoin’s eg, Bitcoin cash and bitGold (both hardforks of bitcoin itself).

snapshot of bitcoin markets this week

To conclude, momentum is carrying bitcoin prices up and up as targets are being revised for the future of the cryptocoin. Currently analysts are advising traders to be cautious when buying as a weak buy is labelled on the current market status. Prices may peak at $11,900 under current trading volumes which remain stable at the $5 billion mark. We may see a return to the $10k mark by the end of next week if $10.8k is broken by Tuesday.

Bitcoin Futures

The critical point remains the $9500 mark, as if prices slip below we may see the bullish trend overturned. The long term plans remain set for December 18th when bitcoin derivatives are launched in Wall street allowing access to Bitcoin markets for many conventional and fiat traders. Depending on the success of the services, we may see bitcoin prices move well onto the next big mark, $20,000.

Disclaimer: BTC.NG or the author can not be held responsible for the content of the article, it is not meant to be trading advice. Please trade what you can afford as losses can exceed deposits but BTC.NG and the author can not be held liable.

 

Written By

Hi I'm Aleppo Allesadero a experienced bitcoin user and educator. Having worked for over a year in the bitcoin journalism ive seen bitcoin grow from strength to strength asserting its power against fiat currency. Hopefully you too can learn about this exciting new prospect which may help transform the way we see finance and economy on a daily basis.

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