Analysts Warn Against Bitcoin Bubble

Due to the bullishness of the Bitcoin’s movement during the past couple of weeks, analysts have recently warned against the potential of the cryptocurrency rallying by as much as $20,000 as well as the possibility of the bitcoin plunging to its lowest in a matter of weeks.

Just earlier this week, the CBOE global markets exchange in Chicago where Bitcoin futures are traded rose by 21% to trade at $18,700 from opening during the same session at $15,460.

Two weeks earlier, Bitcoin futures traded 12% higher to $9000 which is a new all-time high pushing the total market value of the Bitcoin above $150 billion carrying the price of other cryptocurrencies such as Bitcoin cash and Etherium with it.

The Bitcoin’s uptrend movement has led to more and more investors choosing to trade in the cryptocurrency with reports of people taking out mortgages in able to invest in Bitcoin with the opportunity of its current $20000 value being turned into large retirement funds.

Top trending searches have also shown more and more people from all walks of life looking into being able to buy bitcoin with credit card and the other basics of being able to invest in the cryptocurrency.

The rally of the cryptocurrency has pushed a number of global stocks and indices higher over the past week with both economists and analysts referring to a global economic improvement being one of the factors in the cryptocurrencies’ rise over the past month.

Currently, the CBOE Bitcoin front month futures were down to $17,650. It hit a new high on Tuesday just two days after the launch of bitcoin futures on a US exchange for the first time prior to the beginning of another futures contract the following week.

Investors are currently mostly optimistic regarding the Bitcoin hitting a new all-time to $20,000 within a short period of time. However, the government has recently been on the alert for possible ponzi schemes resulting from the recent attention the Bitcoin has garnered from the general public.

Although the cryptocurrency has risen greatly in the past couple of weeks, the possibility of the bitcoin’s value falling into its lowest within a couple of hours must also be expected by investors. This probability has led to regulators expecting the possibility of the cryptocurrency being used for other illegal activities which may lead to a breach of a number of money laundering laws and financial regulations.

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