CBOE futures instilling confidence in Bitcoin
Demand is increasing for Bitcoin as CBOE futures show a bullish attitude amongst mainstream investors.
So far, the price for Bitcoin is following the futures trend. You can follow along with the futures movement on this graph. The chart is delayed, so you can not see the real-time purchases at the moment the contract is ordered.
Futures are betting on Bitcoin breaking $17K and continuing to rise, at the moment. This is creating a sort of self-fulfilling prophecy scenario, where buyers are feeling more confident buying at what seems like a discounted level.
Will a sudden turn toward the negative cause this same self-fulfilling scenario? It is quite possible it will exert a similar influence.
Do not forget that a future contract is a bet. It is easy to place too much trust in these predictions. There are bettors on both sides of these contracts, so someone is banking on the price dropping. Spend with moderation and don't risk what you can not afford to lose!
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