Greed Fuels Bitcoin Price Surge: $20,000 by Christmas?


The sheer greed of surging Bitcoin prices has given many people feelings of being rich and many others regretful that they didn’t buy into it when it was much cheaper. However, as greed fuels Bitcoin price surge: would it reach $20,000 by Christmas?

7 December, Swissquote – Sheer greed is driving the cryptocurrency higher, perhaps to USD 20,000 per coin by Christmas.

Greed Fuels Bitcoin Price Surge: $20,000 by Christmas?

This would put Bitcoin’s market cap above US$300 billion, one third that of Apple! Bitcoin is unique in history, true, but a correction will likely be very tough. Two Chicago exchanges, the CBOE and the CME, will soon launch trading of cryptocurrency futures. This signals an impending stampede of institutional investors – many speculators, some hedgers. Just watch the fireworks fly.

Swiss inflation pause

November inflation in Switzerland fell slightly, allowing the Swiss National Bank to sign with relief. This allows the central bank to avoid tightening monetary policy. The bank and most exporters are pleased that the CHF has weakened 5.5% over the past year.

Markets are pricing in the first interest rate hike of only 0.25% only in March 2019. In 2018 the franc will remain a favorite funding currency. We remain positive on EUR/CHF and USD/CHF: dips are opportunities to reload long positions.

Disclaimer

This article ‘ Greed Fuels Bitcoin Price Surge: $20,000 by Christmas? ‘ was written by Yann Quelenn and Peter Rosenstreich, Market Analysts at Swissquote.

While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein.

This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investments.

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