Bitcoin Futures dates to keep in mind

in #bitcoin6 years ago

The futures contract at CME Group for March 2018 has a last trade date of 29 Mar 2018 and a settlement date of 04 Apr 2018.

See here
http://www.cmegroup.com/trading/equity-index/us-index/bitcoin_product_calendar_futures.html

If you look at the trading price on 29th march it is roughly $8000 USD, it has since dived down to $6500. The settlement date of 4th April is the day before the financial year ends in UK. If you had made crypto profits in 2017 would now be the time to sell your crypto to pay taxes and take profit? Will Bitcoin prices start climbing as a new tax year begins and people continue buying?

Screenshot from 2018-04-02 11-44-24.png
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The next dates to keep an eye on are 27 Apr 2018(last trade) and 02 May 2018 (settlement date). Past (or present) performance are not an indicator of future performance, although as humans we try to see patterns where they may or may not exist.

This time last year, Bitcoin prices began to climb gradually with a correction around Christmas. The price is still much higher than the $1085 dollars it was this time last year (2nd April 2017). The difference this year is that we now have futures contracts which can affect prices significantly.

This is not investment advice, Do Your Own Research (DYOR)

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People made so much noise about the futures market for bitcoin but I just don't think it's a positive thing at all. Happy for Wall street to enter crypto but not by making their own instruments that can be used to distort the market just like they do in the stock market.

It's a double edged sword, there's positives and negatives. At least with crypto you either have ownership via private keys or you don't.

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