Buy the Futures, Sell the News? Reasons For Price Jump

Everyone celebrated when the news of futures was announced as it signaled a new dawn of adoption for big money investors, and it also added a lot of legitimacy for the digital currency.

The announcement by CME, a mere few weeks ago, helped push Bitcoin price above $7,000.

However, that price bump was a mere taste of what was to come as the due date has been approaching Bitcoin has smashed through boundaries on an unstoppable upward trajectory.

It could be that the old adage of ‘buy the rumor, sell the news’ is coming true as a massive mainstream adoption wave ties in with the entering into the water of some large Wall Street Whales.

Getting in early

Back in 2014, when the price hit $1,000, people were wondering if it was too late to get involved in Bitcoin, wondering if they had missed the boat. Of course, that looks ludicrous now, but the same questions are being asked with Bitcoin quickly approaching $20,000.

Individuals have been trickling into Bitcoin in ebbs and flows, but that has turned into a mainstream wave. A lot of the underlying reasons for the boom in adoption has to do with major money entering the waters.

Those on Wall Street, who often still sit divided, have been in the background of a lot of the barrier breaking booms. After the Aug. 1 fork that saw Bitcoin mostly unaffected by a potential catastrophe, legitimacy was handed to it as the early adopters in Wall Street dove in.

Now, those who missed the earliest wave are looking for the next one into the booming cryptomarket, finding it harder and harder to ignore.

Frenzied

The Dec. 10 and 18 deadlines are fast approaching, and as is often the case in the cryptocurrency world, people seem to be buying the rumor, preparing themselves for what could be an incredibly volatile time when futures hit…

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