Investing.com – Bitcoin traded higher on Friday, as bullish sentiment on the digital currency continued, while Ethereum surged to an all-time high after billionaire investor Mike Novogratz said that ether would hit $500 by the end of the year.
On the U.S.-based Bitfinex exchange, bitcoin rose to $8281.6, up $292.7, or 1.24% after rising to an all-time high of $8380 on Tuesday. Bitcoin’s market cap rose to $138 billion.
The positive optimism on bitcoin comes amid signs of rising institutional demand as JPMorgan (NYSE:JPM) said on Tuesday, it was considering whether to provide its clients access to a bitcoin futures following the CME Group’s announcement on Sunday to introduce bitcoin futures before the end of the year.
"Effective Sunday[,] 10 December 2017 for trade date Monday[,] 11 December 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin Futures." The CME Group (NASDAQ:CME) noted on its website.
Ethereum, the second largest cryptocurrency by market cap, rose 10.59% to $448.09 after rising to an all-time high of $468 after billionaire investor Mike Novogratz predicted that ether would hit $500 by the end of the year.
Bitcoin cash surged 3.26% to $1,696.70, while bitcoin gold rose 41.77% to $393 as investors cheered news that cryptocurrency exchanges Bithumb and Bitfinex, launched trading of Bitcoin gold.