Marching towards $20,000, Bitcoin reaches another high

The technical analysis suggests an extension of a wave, which could mean that bitcoin would easily surge above the psychologically important level of $20,000

Virtual currency bitcoin hit another all-time peak on Tuesday, two days after the launch of the first ever bitcoin futures on a U.S. exchange and ahead of the start of another futures contract next week, as investors grew optimistic that the $20,000-mark is within reach.

On Sunday, Chicago-based derivatives exchange Cboe Global Markets (CBOE.O) launched bitcoin futures, enabling investors to get exposure to the currency via a large, regulated exchange.

The CME Group is expected to launch its futures contract on Dec 17.

“We’re going to see bitcoin emerge as a payment network,” said Trevor Koverko, chief executive officer of Polymath, a securities