Earlier we reported that the Intercontinental Exchange (ICE) announced that the launch date for Bakkt Bitcoin (USD) Daily Futures Contract has been pushed back from the scheduled 12th of December to next year in January. Despite the fact that this news could be a catalyst to push prices further down, the market is showing signs of green.
At the moment, Bitcoin is seeing an increase of 3.77% in day-on-day trading. Although this is not a massive upwards direction, it is not diving further red – which offers investors tentative optimism. Bitcoin is now trading at $4,663.24 USD – following it facing figures of around $4200 USD.
Looking at the charts, the significant drop is clear – but signs of an increase could be peaking their heads out. The cryptocurrency is known for its volatility and after several months of Bitcoin non-volatility, this price drop could yet be teamed with a significant upward surge.
Several figureheads in the space remain positive. Fundstrat CEO Tom Lee believes that the token will be hitting $15,000 USD and is maintaining this position in spite of the past few red days in the market. John McAfee of McAfee antivirus is also confident that this is a tough time such as a hard winter which will be followed by a “glorious spring”. Chris Burniske, the former head of cryptocurrency project Arkinvest points out that the hard times will strengthen those who stick around:
Bear markets strengthen the survivors. It’s okay to feel sick through the process, it’s these depths that later give strength.
— Chris Burniske (@cburniske) November 19, 2018