The bitcoin futures price has risen as traders believed a surge of liquidity will push the cryptocurrency up above $900,000, according to ForexData, a trading platform that monitors futures markets.
Forex data show that the futures market is up by 10% to $8,933.35, which is a 50% increase from the price on Thursday.
It’s also up by over 30% from the last day.
Forextrends data shows the bitcoin price is up 6% from Thursday’s close.
“The futures market has gained $100K and up over 30%, which has sent prices soaring, not only in the short term but also on an ongoing basis,” said Patrick Rizzo, founder of Forexdata.
“I think that’s why prices are up now, as liquidity has increased,” he added.
The futures market may also have been spurred by a surge that traders saw in the amount of capital invested in bitcoin futures, said Rizzos.
“It looks like this has been a massive bubble.
Now traders can buy bitcoin futures and the futures price can rise further,” he said.
Forey’s data shows that the bitcoin futures market in early 2018 saw a $9.6bn rally and a $13.2bn fall, according the data.
Foreyy’s data showed the bitcoin market increased by 10.7% to a record high of $1,020.45 at the end of the day on Friday.
“Forey’s price data has a much more nuanced outlook on the bitcoin bubble than we have seen from the NYSE.
The data also has a deeper understanding of bitcoin’s long-term trajectory and how markets will react to the bitcoin rally,” said Rizos.
Bitcoin futures are the trading platforms most popular futures market and the only ones where the prices are tracked.
Futures trading is typically conducted in pairs of bitcoin futures contracts.
It uses a method called “settlement” that allows the parties to buy or sell an asset based on the price of that asset in the market.
The price of bitcoin is determined by the “hash” or value of a digital currency that is used to make transactions on the platform.
Futors markets can be bought and sold on the website of Forey.
Futuries are used by many financial institutions, such as banks, hedge funds and retail investors.