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Bitcoin Jumps Above $99,000
Bitcoin has returned to levels above $99,000, with the continuation of the rises that lead the world's most famous cryptocurrency to levels of $100,000, which analysts expected to reach before the end of the year.
The largest cryptocurrency had crossed the $99,000 barrier for the first time on Thursday.
According to data from CoinMarketCap, Bitcoin's rise during the last week's trading reached about 10.2%, and the market value of the currency reached about $1 trillion and 942 billion.
This significant rise in the cryptocurrency is driven by expectations of a more friendly regulatory environment under the administration of US President-elect Donald Trump.
Bitcoin on the threshold of $100,000!
Its value has doubled this year, and achieved an increase of about 45% in the two weeks, since Trump's landslide victory in the elections, which also witnessed the election of a large number of lawmakers supporting cryptocurrencies in Congress, according to Reuters.
The cryptocurrency rose more than 1% on Friday, reaching $99,380, and is on track for its best monthly performance since February.
The surge has made bitcoin a major beneficiary of the so-called “Trump trade,” assets seen as profitable or impacted by Trump’s policies.
As part of its efforts to expand the cryptocurrency market, Cboe Global Markets announced on Friday that it will launch cash-settled index options on the price of bitcoin starting in December. The options will be based on the Cboe Bitcoin US ETF.
“We anticipate that the unique advantages of cash settlement, combined with the availability of different index sizes and FLEX options, will give clients more flexibility in their trading strategies,” Rob Hocking, global head of product innovation at Cboe, said in a press release.
The announcement comes after options trading on bitcoin ETFs began this week.
