With CME’s December Futures Launch, Can Bitcoin Price Hit $10,000 This Year?

CME Group, the largest options exchange in the global finance sector, has announced December 10 as the official launch date for its bitcoin futures trading platform. Analysts expect the bitcoin price to surpass $10,000 upon the launch of CME’s bitcoin futures exchange.

Earlier this month, several highly regarded financial analysts including RT’s Max Keiser and billionaire hedge fund investor Mike Novogratz have predicted the price of bitcoin to achieve the $10,000 mark in the short-term.

First LedgerX Option Pegs Bitcoin Price at $10,000

This week, LedgerX, the US Commodities and Futures Trading Commission (CFTC)-approved bitcoin derivatives, options, and futures exchange, processed its first bitcoin options contract. The buyer pegged its option contract at $10,000, which would allow the buyer to profit from the bitcoin investment only if the price of bitcoin achieves the $10,000 mark by December 28.

Futures and options exchanges operated by LedgerX, CME Group, and CBOE are only utilized by accredited institutional investors that are not allowed to invest directly in bitcoin. As such, the majority of options contracts as the abovementioned contract are made by large-scale retail investors, that truly believe the price of bitcoin can reach $10,000 in the short-term.
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