Bitcoin Price Nears $20,000 Mark

By Modupe Gbadeyanka

The price of popular cryptocurrency, Bitcoin, traded at $16,356 on Monday, getting closer to the $20,000 mark it is expected to exchange before the end of this year.

The currency demonstrated its volatility during the last week, reaching an all-time high of $17,236, before falling back to $13,920 later in the day.

On Saturday, it rose again to 16,154 then fell again to $13,101. Sunday saw a steady rise, then this morning, it shot up again and at the time of writing the price is $16,356.

Contrary to the claims of several analysts, the listing of Bitcoin futures by CBOE, the global finance market’s largest options exchange, has been a driving factor behind the recent Bitcoin price surge.

Many investors in the market expect the price of the currency to increase further in the upcoming months, as tens of billions of dollars in institutional money flow into the Bitcoin market.