These announcements saw a sharp increase in the currency’s price, with it currently trading at just under $7000. In fact, Bitcoin’s price has increased 500% since the beginning of 2017, gaining the attention of both Wall Street and Main Street.
If you’re not sure, let’s take a look at what futures actually mean. As the name suggests, investors will be able to bet on the future price of a commodity, or on Bitcoin in this case. If the currency is trading at $7000, an investor will buy it for $8000 as they think that is what the future price will be. If however it increases to $10000, the investor will get the $2000 difference..jpg)
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