Bitcoin has entered a new phase
Now that there is a futures market for bitcoin it will allow people and institutions to be able to participate in the growth of the cryptocurrency without having to deal with the technicalities of managing and securing the actual coin. This is a very positive thing for more traditional old school traders and institutions.
CBOE website crashes
This happened because of a huge spike in traffic and it happened almost immediately after the market opened. The hype and anticipation of bitcoin futures trading was vastly underestimated by many financial institutions and their systems where not able to handle the spike in traffic. This is the second time in two weeks that the bitcoin rush has taken down multiple websites.
Critics of the Futures market
The CEO of CBOE Edward Tilly has been criticizing the launch of the new futures market that was opened yesterday. He claims that it was hastily done. In an interview with Financial News, he highlighted the open letter that was crafted by the Futures Industry Association which states that the vetting process that came before the launch of this new market was rushed and does not reflect the reality of the regulatory approval process. One of the main concerns is the volatility around cryptocurrency prices.
With all that being said, the launch of the bitcoin futures market was a huge success and it is going to fast track bitcoin on the road to mainstream adaption and give it more legitimacy in the eyes of mainstream finance.
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I think the bankers are gaming the investors. CBOE has even crashed before during trading hours. They have their plans as to why today there was a slowdown. Not sure what but too greedy to let anyone on the outside know what caused this.
I agree with the 100% They are way to greedy to let us know the actual cause . But at the end of the day they are trying to use this market like they’ve done every other market .... manipulate the price for their benefit.
Yes they will certainly try to manipulate the markets, I am just happy that is does not have a direct effect on the actual price of bitcoin
They had so many chances 2 bring bad publicity 2 btc but nothing worked..
I think they will try 2 manipulate it more up 2 like 50 or 100k (in futures easier 2 fullfill) following by a tremendous short sequence which will scare most people because then they lose much in relation 2 fiat money- that's the joke because that means ironically nothing (usd is worthless) but sadly it will work iguess:(