Bitcoin Continues Upward Surge, Surpasses $9,700 MarkNovember 27, 2017 4:04 pm
Following a remarkable upward surge over the past weekend, Bitcoin prices continued to climb Monday with the cryptocurrency reaching $9,731.12 at 10 a.m. ET, Cointelegraph reported.
This recent upward mobility has been attributed to a series of critical news stories regarding the mainstream adoption of the cryptocurrency, the report said.
Up to this point, the report said, the market rise has been attributed to an increase in adoption among individuals, in addition to institutional increases, the report said.
Coinbase user accounts, Cointelegraph reported, of nearly 125,000 per day as well as the hope for futures trading from two Chicago-based markets (CME and CBOE), appear to be responsible for the current state of the cryptocurrency.
But, investors during this record bull run remain cautious of a bubble in the price. However, those investors believe a substantial future increase is not far away as institutional markets begin to open up for Bitcoin, the report said.
Additionally, a more stable Bitcoin network, the report said, will likely produce greater levels of adoption, both as a store of value and as a payment network. New payment platforms and businesses willing to accept Bitcoin will move the market forward as well.
– WN.com, Jack Durschlag