Stock price decline for bitcoin futures to boost cryptocurrency prices
Bitcoin futures contracts were down on Thursday to $2,000 per contract, and a number of other markets had been trading at higher prices as investors watched the price decline.
The futures were up on Friday morning to $3,400 per contract.
The CBOE Volatility Index rose to an all-time high, rising to 3.8% on Friday, as investors awaited the next big move from the Federal Reserve.
The Fed has been trying to get the price of bitcoin to drop to $100 before the end of the year, and has not yet signaled that it will do so.
The market is expected to move lower again this week as traders wait for the Fed to decide whether to begin the process of raising interest rates.
The price of the bitcoin futures was down as much as $2.90 per contract on Friday.
The CFTC is expected Friday to announce that it is expanding its probe of bitcoin futures contracts.
The SEC is investigating the bitcoin market for securities fraud and other violations of federal securities law.