Bitcoin Finally Cools After Monster Rally

As Bitcoin smashed through the $11,000, $12,000 and so on all the way to $19,000 on some exchanges, people were wondering if, when, and how this monster bull run would all come to an end.

It finally has ended for the digital currency as the price corrected from just under the $19,000 mark to sit at 14,470 at time of publishing. This represents a fall of around 14 percent, which in Bitcoin terms is relatively minor.

Hardly a crash, nor a bubble pop, as some pessimists might suggest, it is presumed that investors may simply be taking stock and cashing out a little after gains of over $5,000 per coin.

Reasons for the rise?

Most of the recent run-up came about because of the news out of CME that they would be operating Bitcoin futures come December. That news helped push Bitcoin past $7,000 in a little price boost.

However, as the Dec. 10 and 18 deadlines for CME and CBOE to launch their futures approach, there has been fresh vigor and frenzy. Essentially, it allows for traditional investors to add a new asset class to their portfolios and helps with the adoption of such a sector.

Price correction

Of course, those who felt the full brunt of the rise will be sad that it is over, having profited incredibly well in little under a week. However, the price correction that this should be viewed as is probably a good thing ahead of the futures launch…

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