The Post-Futures State of Bitcoin: Day #6
Today is Friday December 15, 2017
Bitcoin reached a daily high today of $18,154.10, before setting down to $17,610.10 by the end of Day, a 0.67% gain over 24 hours.
Starting next Monday December 18, 2017: TD Ameritrade, the largest futures operation of any online brokerage, is going to allow bitcoin futures trading on its platform. CME will also be entering the Futures market a day earlier on Sunday the 17th, which is important to note as CME is also bigger than Cboe, which should bring higher volumes and higher prices to the Bitcoin Futures market. According to Bob Pisani at CNBC "That means more retail participation and more liquidity." source
According to a Bloomberg article, TD Ameritrade is restricting the trading of Bitcoin futures to those with $25,000 or greater in their account, and post margin (i.e. collateral) 1.5x greater than what Cboe requires. CME futures launching Sunday will not be available for TD Ameritrade investors at launch: “Right now we are taking the same approach we did with the Cboe product, to wait and see how it goes,” said JB Mackenzie, managing director for futures trading at TD Ameritrade. “We want to watch that market open and become an orderly marketplace and see who the participants are in that marketplace. This is the same process we use with any new product. We want to see how the market reacts.” source
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STOPBitcoin is sure going straight to Moon. Fingures crossed though.
It will get busy next Monday probably. Tension builds up!