The unwavering growth of Bitcoin indicates no room for a downturn any time soon. Trading at a price of 400 on Thursday morning, Bitcoin rocketed beyond 97000, propelling it to hit the milestone of 1,00000 any time soon. This would result in a push in Fully Diluted Valuation FDV beyond 2 trillion for the first time in history.
The existing pro-crypto stance in the US has resulted in rate cuts of government and federal reserves, contributing to the risk of trading. This has resulted in a surge in Bitcoin trade by around 30 in the last two weeks. According to trading insiders, Donald Trump's victory in the recent election has significantly contributed to the trend, bracing an expectation for a crypto-friendly regulatory framework.
Apart from the Trump victory, the uptake of Blackrock's physically settled IBIT option which tracks Bitcoin's prices has resulted in an increased institutional interest rate, which played a crucial role in fueling the trend. The surreal trading volume of the IBIT option, crossing 2 billion from the first day of launch, has placed the iShare's Bitcoin Trust ETF IBIT in the top 20 global list of most active non-index options.
The drastic increase in trade volume will foster room for diversified trading strategies and new demography for the Bitcoin platform, decreasing the volatility and associated risks. This definitely contributes to the increase in Bitcoin trade, considered a viable asset.
