Chicago Mercantile Exchange to start trading bitcoin futures - what it means for the price of bitcoin. New news today!
This evening, the CME announced that it will shortly commence trading bitcoin futures. This is an extremely inportant announcement.
Here is an excerpt from their website:
Link: http://www.cmegroup.com/company/history/
“The CME Group is the world's leading and most diverse derivatives marketplace, handling 3 billion contracts worth approximately $1 quadrillion annually (on average). The company provides a marketplace for buyers and sellers, bringing together individuals, companies and institutions that need to manage risk or that want to profit by accepting risk.
Our exchanges - CME, CBOT, NYMEX and COMEX - offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. As part of our commitment to providing innovative risk-management solutions to the marketplace, CME Group also offers a growing slate of cleared OTC products and services.
Through our CME Globex electronic trading platform, users worldwide are able to access the broadest array of the most liquid financial derivatives markets available anywhere. By serving as the counterparty to every trade that happens in our markets, we protect the integrity of our markets, virtually eliminating third-party credit risk.”
Here are some of the more popular products traded on the CME.
Futures trading will bring bitcoin into the mainstream financial world. On the back of the futures we will have bitcoin options and bitcoin ETFs. It will open the door to a far wider group of investors than bitcoin has seen before.
Futures prices tend to trade above the spot price. In bitcoin’s case, nobody is going to short it unless they get a much higher price than spot. This means a steep curve. A steep curve will draw in new investors. They will buy bitcoin spot, and sell the higher futures price.
The introduction of bicoin to the CME gives bitcoin legitimacy.
#. Price Projection
The price will be propped up by these new investors. I would expect an imminent leap to $10’000. Thereafter as new money enters the bitcoin world we could see considerable multiples of that.
@swissclive
I have a question for you.
Any reason for downvoting this post?
https://steemit.com/photography/@filzaart/cakar-ayam-2
@bullionstackers, thank you for your question on this. It’s always useful to take a second look in case of mistake or misunderstanding.
I just removed the flag.
I saw that she wrote the same blog 3 times with the same words, and lower down something like ten times repeated a different blog of hers. The same people seemed to vote 3 times on 3 identical blogs.
On closer inspection, I see that each of the blogs had the same text, but a different picture (but very similar picture, so on a mobile phone, you might assume its the same picture).
I will write her a comment to say that instead of writing multiple blogs with exactly the same text, she could write it once and include more than one photo in the blog.
What do you think of my idea @bullionstackers?
I did have a look at her Homepage.
She is using #whalepower Tag, which fall into my jurisdiction.
I also provides Steemit Education on how to do posting. I do also remind them a minimum of 3 different views of the same photos.
This kind of post, I seldom Upvote.
That’s being said we cannot just DV them because we can. As I can see they do have language barrier.
I leave them alone.
Fully agreed. I will take no further action, and leave it to the Steemit Education. (The flag was removed).
BTC has terrible tech and a scaling problem that has split the community. The mainstream idiots propping up the price will only give a better shorting opportunity later.
Most projects on top 100 coins are objectively better in all technical aspects. I thought the crypto-bubble will explode purely on dumb money speculating into BTC and scam coins. But these greed driven financial instruments will make the crash a much bigger one.
These news reminds me of The Big Short (My #2 movie for 2015). BTC price sentiment reminds me of housing prices. Buying BTC now is like buying Nokia after the release of iPhone. Microsoft actually did that and we all know it didn't end well.
amigo coloque el enlace con la fuente de la información, para que no le aparezcan esos robot.