Did Futures Markets Negatively Affect Bitcoin Price and the Entire Crypto Industry?
Late last year, the cryptocurrency community highly anticipated a surge in bitcoin price after the launch of the bitcoin futures market operated by the Chicago Board Options Exchange (Cboe) and CME Group, two of the largest options exchanges in the global market.
Almost immediately after the entrance of Cboe and CME Group in the cryptocurrency market, the price of bitcoin started to surge rapidly. Within weeks, the price of bitcoin peaked at $19,000, surpassing $24,000 in South Korea.
Short term yes, long term no. I think more big money is going to flood in once the price is pushed to 4-6k. Big money sees the potential to profit off of the volatility and they have ways to profit on the ups and the downs now.
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