In just 2 month , the bitcoin price go from 3500 USD TO 7600 USD, and today bitcoin is traded from 7600 USD to 7700 USD across global exchage service , and the market capitalization of altcoins and bitcoin reach a new all time hige capitalization at 20 Bln with a total of 62.4% of Bitcoin dominance , this dominance is the biggest dominance since 7 month .

Advertisement :

BTC/USD chart from Bittrex

Now what are the factors that push Bitcoin to reach this price :

1-Over the past two weeks, Japan and South Korea have seen a massive portion of conventional investors in the traditional financial industry allocate their funds to bitcoin, given the increasing liquidity of bitcoin and the cryptocurrency market in general, Specifically, in South Korea, people are selling their investment into stocks markets and tradutional assets, in order to invest into bitcoin .

Advertisement :

Today, Japan’s largest retailer in Bic Camera, budget hotel chain Capsule, major airline Peach, and the country’s largest grid operator Remixpoint accept bitcoin as a currency for all of their operations, services, and products.

Advertisement :

2- The biggest factor behind the rally was the announcement of Chicago Mercantile Exchange’sdecision to offer Bitcoin futures, an also large investment firms in USA anounce that they will provide people with Bitcoin trading,Specifically,some company in wallstreet .

3-Investors in the US are also optimistic in regards to the launch of a bitcoin futures exchange by CME and CBOE, the two largest options exchange both domestically and internationally. CME’s bitcoin integration is expected to offer immense liquidity for institutional and retail investors, who have been looking to allocate their “money on the sidelines” into bitcoin for many months.

Advertisement :

4-Also people are buying Bitcoin across global exchange service to get Free Bitcoin segwit on 16/11/2017 after the hardfork of Segwit2x.

The bitcoin price surge from 3400 USD to 7500 USD, what confirm that bitcoin is a high risk investment, maybe we will see a correction after the segwit, Now i advice to invest into Altcoins like Ethereum , Litecoin and Monero because they are very dip .

Read also :

what are the factors that push bitcoin to reach 6600 usd ?

Advertisement :

if you like and you appreciate our work and you want us to improve our work you can send donations to this address :

Litecoin donation address : LMPwEAkz2zZZ4A6awiGjvFc3KHzGo5wonR

Bitcoin donation address : 1Gzcea47uz9ZMspEa9f17oPJtA2m8oc5Pe

Ethereum donation address : 0xF4C9a834Afa79CCB6481255889EEa3E28296685C