Bitcoin futures launched on the world’s largest futures/options exchange, Cboe, on December 10, 2017 under the ticker XBT. The day these futures launched, the price went up by $2,000, up to $16,000.

The current daily volume of XBT is about 4,900, compared to the 280,000 of all futures of the exchange, making up about 2% of futures trades (data from Cboe website).

Let’s look at the predictions futures traders have made for Bitcoin:

In general, in recent times, sentiment has gone down in terms of future predictions. For April 18th, the average prediction is 7,940 USD. For May 16th, the average prediction is 7,950 USD. For June 13th, the average prediction is 7,970 USD, and for July 18th, the average prediction is 8,009 USD.

Date	Average Prediction
April 18th	7,940 USD
May 16th	7,950 USD
June 13th	7,970 USD
July 18th	8,009 USD

But obviously the price isn’t going to change that little, so why are they predicting that? Well, because this is an average, it is taking the average of the bulls and the bears, and because they predict at about opposite ends of the spectrum, things aren’t going to change much in the average.

But what we do see is a slight shift from bearish to bullish, so that’s a good sign.

One thing to notice is that there is very little trading volume on the longer time spans, which is normal to a point. This little volume on these other time spans probably signals that people are very unsure of Bitcoin price in the long-term.

I would love to hear if you can get more insights from this data. Make sure to write a reply of what you think!

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Tell me what you think of these futures, and what insights you can get from the data in a reply!