Bitcoin price reached its new high at $8255.2 on Monday, having outbroken level 8000 the day before. So, the cryptocurrency gained 2.8% for a day.
Bitcoin has grown by more than 700% since the end of last year, it doesn't slow down and continues to go up. Its price rose by 17% only for the last week. It is explained by the canceled hardfork.
However, there are other reasons for bitcoin rise. The main one, according to analysts, is CME Group, the largest options exchange, announcement to launch bitcoin futures in December.
Another reason is Square Cash announcement to test cryptocurrency support in in their Cash app. It will let buy and sell bitcoin directly in the mobile app. “We believe cryptocurrency can greatly impact the ability of individuals to participate in the global financial system and we’re excited to learn more here”, says Square Cash in the announcement.
At the same time, according to recognized financial market experts, the cryptocurrency success is temporary. Most of them describe bitcoin as a bubble that will break sooner or later, bankrupting millions of investors.