Originally published by AxiTrader
(Bitcoin) has reached a fresh record high today after the world´s largest derivates exchange - CME Group (NASDAQ:CME) - announced to launch Bitcoin futures. This gives the cryptocurrency additional credibility, and has Bitcoin bulls hoping that the interest amongst institutional investors will now increase. The lack of bitcoin derivatives traded on reputable exchange has kept many professional investors on the sidelines.
There are other reasons which are keeping Bitcoin (BitfinexUSD) up these days, although there are only rumours at this point. Amazon (NASDAQ:AMZN) might soon announce that it will accept Bitcoin payments, which could give the cryptocurrency a decent boost. Further, there are rumours that China might lift the BTC ban in the near-future. This would make sense, as many Chinese investors still interested in Bitcoin trade on less reputable, risky exchanges. Having highly regulated exchanges within the country would certainly be of greater advantage.
From a technical perspective, the outlook for BTC/USD remains positive as well. Decent support can now be expected at the former resistance level around $6210.
