15
Nov, 2019

Bitcoin : Weekly Analysis

Bitcoin’s price didn’t have much action over the last week but many news emerged in the crypto industry with new products and actions.

 

Bakkt and CME, the two companies which offer futures contracts on Bitcoin start offering new products to attract new institutional customers. Bakkt announces that it will settle futures not only in Bitcoin but in cash also, while CME will offer options contracts besides with the previous products. In parallel, Bitfinex will start to offer new choices regarding Bitcoin trading and more products to expand its customer base.

 

Tim Draper, the millionaire entrepreneur, predicts that Bitcoin price will reach $ 250,000 until 2022 or 2023, based on micro-transactions projects.

 

Regarding Bitcoin’s price, there was a relevant stability as the price remain close to $ 9,600. If the price could surpass 20-EMA, there is a possibility of reaching $ 10,300 or even $ 12,000. At this moment, the moving averages and RSI index show that the stability will remain over the next days, without any clear momentum.