NYSE Chairman Voices Regret for Not Launching Bitcoin Futures Trading First
This New York Stock Exchange (NYCE) chairman Jeff Sprecher said that he and his exchangers 'competitors' defeated their rivals for the launch of Bitcoin Futures business. Ironically, while dealing with Bitcoin, NYSE has been a pioneer, because it introduced its bitcoin index in the early summer of 2016. In the beginning of this December 2017 investor conference sponsored by Goldman Sachs Group Inc in New York, Sprecher admitted that failure to follow them on their Bitcoin index project can only be plain stupidity: [We can be stupid to not be the first of them ... I do not have the answer, I want to know that ... I do not know what to do cryptocurncies)
NYSE rivals start betoken futures trading
This NYSE Chicago Board Option Exchange (CBOE) and CME Group's rivalry is scheduled to launch its Bitcoin futures products in December. CBO will present its futures offerings from 10 December to 5 pm the first full day of business will be on Monday, December 11. Meanwhile, the CME Group is going to launch similar bitcoin offerings on December 18. Behind the extreme fluctuations in the price of bitcoin in the last 48 hours, these default offerings can be the main reason. Bitcoin prices have increased in new record high and there has been a decrease of experienced record drops in the markets as bears and bullocks.
Uncertainty associated volatility
Because of its uncertainty the likelihood of such a huge fluctuation, the response to the futures market after the Beat Coin In order to bet on the cost of bitcoin, these markets will enable large money, especially traditional orthodox financial institutions. While some are likely to have a large "long" position, others will undoubtedly reduce the assets they believe in bubbles, futures market institutions will be able to easily keep "shorts" easily, and it is always a chance that some of these deep pockets can make sure to pay their bytes to influence the underlying bitcoin market.
Despite this initial reaction of the futures market, these incidents show that bitcoin and other digital currencies are slowly but surely entering the mainstream financial sector. The balance of financial power is gradually being shifted from a historical, institutional environment into a decentralized and more uniform system.