They found uncertainty in the market.

The research company Element Group reports that the bitcoin futures trading curve shows considerable uncertainty in the bitcoin market.

As shown in the Element Group study that serves the digital token markets, in the first quarter of 2018 the bitcoin futures curve was horizontal, indicating the status of deportation (speculative stock transactions).

Element Group analyzed the bitcoin models from the moment the first futures contracts were launched in December 2017, and compared them with the data at the end of March 2018. According to the researchers, the downward curve means that there is considerable uncertainty in the bitcoin market, while the current spot price exceeds the expected spot price for futures.

It seems that most of the futures operations currently serve for hedging and risk management purposes, and not for speculation. We also believe that market makers, who take the other side of the futures speculative, who want to receive payment for the risk of that, given the high volatility of Bitcoin. This risk payment usually manifests itself in the form of a large discount in the spot price.

Exchange Cboe officially launched futures for bitcoin on December 10, 2017, which led to an increase in the price of the coded currency. CME Group followed this example in a week, which contributed to the growth of bitcoin futures in January to more than $ 19,000.

In the early days it was assumed that futures would spark great interest in cryptocurrencies, attracting not only high-risk funds and the rich, but also retail investors. However, the researchers said a deeper study of the bitcoin traders' quota showed: large digital coin holders and bitcoin buyers "are willing to sell contracts at the current or even lower spot price." According to analysts, investors are doing this to protect themselves from the risk of deterioration.

Given that the history of the bitcoin trade is not so long, the normal state of the markets has not yet been determined and there is no effective credit and currency market for the loans. The identification of initial trends and their analysis in this unexplored and unstable sector is crucial if we want to create a new generation of stable and profitable capital markets.