We are seeing these days how Bitcoin is experiencing an important price rally, especially caused by the announcement of the CME Group, which has led it to pass $ 7.500 and things do not seem to stop.

This week Bitcoin has passed $ 7.000 and today it is already well above $ 7.500, moving directly towards $ 7.600. We must emphasize that the current forecast was for Bitcoin to reach $ 6.000 by the end of the year, something that has been expanded, according to some to $ 10.000 will be possible between this last quarter of the year and the first quarter of next year. Logically, users and investors are delighted by this increasing rise in value, but what is behind this impressive rally?

Of course, the main reason for this rally is the recent announcement by the largest futures company, such as the Chicago Mercantile Exchange, to offer Bitcoin futures. Futures, for those who do not know what they are, are an essential part of trading and investing on Wall Street, but normally it is reserved for assets that are more linear in time or what is the same, that have less volatility. This bet is somehow legitimate to BTC and that has caused interest to rise within Wall Street.

The division on Wall Street is very important and there are different currents of thought around BTC, but it is evident that the decisions of this financial market influences the value of this cryptocurrency, just as they influence decisions of states, as we have seen with China . The bifurcation of August 1 was a blow to the cryptocurrency, something that lasted rather little and what was expected to be a kind of civil war within the cryptocurrency market, remained in a skirmish that lasted a few hours, until the BTC He reigned again without major problems.

The jump from BTC to the conventional market is still far from being common, since everything concerning the blockchain and cryptocurrencies is, although it may not seem like it, starting now and many are still reluctant to progress, especially traditional banking, which It sees its huge speculative profits in jeopardy. Mass adoption has a long way to go, especially for ETFs, which will still take a long time to arrive and will open the melon of cryptocurrencies. The SEC continues to hold its position against Bitcoin ETFs, but they continue to watch the volatility and nature of this cryptocurrency.

It is known that cryptocurrencies have a maximum value and then fall, something normal and usual. A few days ago, Bitcoin rose to $ 7.300 and fell more than $ 500 in just a few minutes, a correction that was instantaneous, due to the cap of many investors. These movements, already conceived as normal, are what the SEC does not like, who considers that BTC has 'fundamental flaws', which means that 'they are dangerous assets to force an exchange-traded structure'