CBOE Exchange Puts The First Futures On The Cryptocurrency - Bitcoin
The past couple of days have been very exiting for everyone of us. The cryptocurrency Bitcoin has experienced a price drop of twelve percent. Since the beginning of the year, the price has risen by more than 1500 percent. Despite the recent slump, this week saw a 30 percent increase.
The digitization of the financial world is facing its first major test. Next Monday we will find out if "big money" trusts the cryptocurrency Bitcoin or not. Then, the CBOE Exchange puts the first futures on the cryptocurrency, followed a week later by the Chicago Mercantile Exchange (CME). This makes the virtual currency a "real" financial product that is no longer traded only in experimental venues but also on an established exchange used by Wall Street and global investors. This is a pretty big thing since no one in the mainstream world ever believed in Bitcoin and it´s now hitting the Wall Street next week. But that also comes as a stress test, then from Monday investors can then also bet on a large scale against the Bitcoin. This will be interesting. I am wondering how many people and investors will bet against the cryptocurrency. For me it doesn´t matter because I do believe that crypto is the future and everything that happened this year is just the proof of my thoughts.
It will already start on Sunday evening at 5 pm. Then the CBOE starts its pre-market trading, where Bitcoin can then be bought and sold alongside other products such as the volatility index Vix.
How big the nervousness in advance is, is reflected in the price fluctuations. Is this really the reason why Bitcoin went up? Shortly before the start of futures contracts on the digital currency, the Bitcoin on the trading platform Coinbase on Thursday night rose within 90 minutes only from $ 16,000 to nearly $ 20,000, and then to return all profits. On Friday he then noted below $ 15,000. It is just unbelievable for me to see Bitcoin at such a high price. I remember the very first day where @siriwnchester introduced me to Bitcoin and it was literally at $11 !!!!
Such price fluctuations exist in the financial world only for bankrupt titles or so-called penny stocks. In the case of established investment products, so-called flash crashes occur from time to time, in which bad bookings or out-of-control computers unleash an avalanche on their own, because the corresponding sales orders are not counteracted by sufficient purchase bids or there is a sudden lack of liquidity in trading. Exactly this phenomenon is also regularly experienced by Bitcoin. There are also technical problems. At times it could not be traded on Coinbase, because the servers collapsed because of the big onslaught. Other Bitcoin providers also reported difficulties. I have made the same bad experiences on other exchange platforms such as Bittrex and Poloniex. At the same time, increasing attacks by hackers make investing a highly uncertain business...
What do you think will happen after CBOE accepts Bitcoin for trading?
Thanks for reading
Stay focused
Love, Soldier
I got in to bitcoin when it was $5
I got out when I realized its weaknesses would eventually emerge.
I now use it occasionally for some purposes, but do not hold.
My investments are in the cryptos that will become useful after bitcoin reaches its technologival limitations especially transactions per second and real as opposed to pseudo anonymity.
The real value of Blockchains:
http://blocktivity.info/
I guess that makes at least two of us understanding the end results of this weeks action and what is coming up for the world of Bitcoin and it pseudo-decendants!?!
Great comment there @onceuponatime! Thanks for sharing this critical information with us all through the link.
Namaste :)
i am concerned that those wall street wolfs will tear btc apart but i guess we will see what future on major exchanges will bring us
Alright, you all saw what a few duckies could do to Ethereum, now check what will happen to Bitcoin! ;)
It will only underline the exceptional product Bitshares and its relatives are in relation to all the cryptocurrencies by showing how none can match it under real pressures. Thus, Bitshares, Steem, EOS, the Sovereign HERO and soon to come up on line Eristica will see themselves pumped right up to the place they legitimately deserve above all.
Thanks a lot for this awesome news, it makes the beginning of this weekend one to celebrate all out all weekend! YAAAAHOOOOOO!!!
Namaste :)
great news....
thank's for sharing to participate like this sensation..
love to read your post...@soldier
@RESTEEEM
Good news ,
May I contact all of you at facebook or twitter?
Thank
I think the price will go up again. I will be interested to see what happens but no one can know 100% what will happen. Good information. I will come back for more :)
True I have the same thoughts. It will go up once again but will also crash for a little in a few weeks...
Glad you like the article :)
Thank you. Keep up the article! I will definitely follow.
I think the next couple days will be very volatile. Bitcoin will rise with the new investors, but when they make their desired profit they will sell, which lowers the price. When the price drops substantially from investors pulling out their gains, we will see more people pullout to avoid losses. This will further lower prices. We will be in a cycle of prices going up and down. These new investors dont want to HODL they want to make profit and will get out quick.
Wall Street types getting into Bitcoin will not bode well for the average bitcoin holder when the price drops. But we will all also see great gains between now and about 2 months. I’m just weary of increased volaltitlity.
Tomorrow the fun begins, then on 18th Dec
Bitcoin is becoming the reserve currency of the world. I'm new to the cryptocurrency world myself and am hating not having paid more attention to it in the past.
But my eyes are focused on this right now and I'm thrilled to see a mechnism in motion that'll change the way humanity does business forever. This is all part of our overall spiritual growth, we must realise that we are one human family and we need not compete for the fruits of our collective labor.
Generations before us have worked hard to contribute to the vast pool of knowledge we have access to today. We have the means, the understanding necessary, to enrich the lives of every human, not just those that earn it. I believe the future we must strive for is one without a currency at all, or better put, without the need for a currency.
Bitcoin is a tremendous leap forward for humanity in large part because it introduces the idea that a social service, in this case the need to store wealth, can be decentralised and more trustworthy. This is the future.
20.000 Dollars!!!
Have a good day @soldier!!!
In a short term, more euphoria and more manipulation.
An excellent question, it seems to me that if Bitcoin starts trading on futures exchanges, then the price will go up arbitrarily, as more solid players will come who have been waiting for official bidding. Thank you @soldier