Over the past three months, Bitcoin’s value increased more than 130%. The recent announcement of CME Group and Cboe Options to launch futures contract for the cryptocurrency contributed to its strong performance.
Bitcoin could reach $40,000 next year
On Monday, Michael Novograts, the former hedge fund manager of Fortress Investment Group, offered a bullish forecast on Bitcoin. He believed that the digital currency will touch the $40,000 level by the end of 2018
He told CNBC, “There’s a big wave of money coming, not just here but all around the world.” The huge demand from Asia is also pushing the cryptocurrency higher.
