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Bitcoin hits $10,000 in Korean exchanges

If you have been following Bitcoin price in September was $4,950 and in October it hits the best price of $6447. So, this month’s appreciation is by over $3,500 as it crossed the $9,500.

However, it is yet to reach $10, 000 on CoinMarketCap and other markets.

At the time of press, it is already trading above $10,000 at several South Korea-based bitcoin exchanges according to market data.

These include Bithumb where it is $10.581.94 today.

Bithumb

Coinone where it is about $11,497,000 and

Coinone

Korbit where it is $11,440,000.

Korbit

The debate of Bitcoin rally, the highest gain has happened since Bitcoin hit past $8,000 mark on Friday, November 24. Therefore, the most acceleration occurred this month according to charts.

There have been various reasonings why the rise is occurring and it is easier to say that it is in a bubble than looking at facts. But Bitcoin could also be on its path up given that some analysts say they expect to rise to more than $12,000 by end of the year. That’s one month from now!

According to November 20 news, the price was driven past $8000 by three factors including CME announcing of upcoming Bitcoin futures contracts, successful lightening atomic swaps and issues surrounding Segwit2x as many people bought it. But Segwit2x issues are behind it now.

Many people say its rise is coming from the expected launch of Bitcoin futures contracts by CME, CBOE, and others. These futures contracts are expecting to do two major things for those expecting the price to slump:

The first is solving the volatility problem that everyone fears when it comes to crypto trading if all goes well. It is the reason many don’t want to plunge and if futures contracts succeed in doing so. Since then it is possible that more institutional investors would come in, say, analysts.

So, hopefully, no more fears of price hopes and deterioration of prices.

The second thing is that they would help more institutional investors come into crypto investments. Countless banks have been considering cryptocurrencies, not to mention governments working on or hoping to launch their digital money versions.

 

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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