Bitcoin over $10,000 again

Bitcoin managed to recover its previous losses on Friday, breaking over the 10,000$ level once more. The world of cryptocurrency trading appears to be on its best shape ever as its most requested instrument and number 1 digital currency continues to increase its value, making losses as big as 30% in a day look like minor setbacks in what appears to be an unstoppable positive rally.
The most important digital currency was pushed higher by a very important piece of news: the Nasdaq company CME Group finally announced a release date for the long awaited Bitcoin futures. Starting on Monday, December 18, the new financial instruments will be available to the public, setting yet another new development for investments on digital currencies. The new instrument should be an easier option for investors than the actual currency, and this could possibly allow the trading volume of Bitcoin exchanges to increase notably in the next few months.
The currency just keeps breaking records on records, up more than 1000% since the beginning of the year. However, more and more voices are raising doubts over Bitcoin from the financial world. The last one was Intesa Sanpaolo’s CEO, Carlo Messina; the chief of the greatest banking group in Italy warned investors, saying that Bitcoin’s rally is creating a bubble that will soon explode, causing thousands of people to lose their savings. Even Jamie Dimon, JP Morgan’s CEO, had spoken against the cryptocurrency a couple of weeks ago.
In the mean time, the rally continues, and Bitcoin is still one of the most volatile instruments in all the markets. In a little more than two weeks, the digital currency registered losses as big as 29% and managed to recover them all, setting new record highs and fueling the appetite of the markets for cryptocurrencies in general. BTC/USD was up more than 6% for the day during the European evening, and was trading at 10,549$.

Reply