Some analysts believe that the roll -
out of Bitcoin futures by CBOE and CME Group may result in volatility stabilization for Bitcoin, which could make Bitcoin a more stable asset and thus a more attractive investment option for investors.
Not exact matches
And the air is being let
out of the
bitcoin bubble, with CNBC's Jackie DeAngelis and the
Futures Now traders.
Bobby Cho, head trader at major
bitcoin trading company Cumberland, a subsidiary
of DRW, pointed
out that the CME
futures were trading closer to the actual price
of bitcoin than the Cboe contract had at launch last Sunday.
«The
future of bitcoin remains bright with strong support
out of large financial players including major banks, venture capitalists, and the largest stock exchange in the world, the NYSE,» added Odell.
Where he did point
out some regulatory progress has been made is in the licensing
of Bitcoin futures contracts traded on the CME and CBoE which he said are working quiet well.
There is a vibrant developer community that is using open blockchain networks like
Bitcoin to build
out the
future of Internet infrastructure and fundamentally improve the way we transact online.
In the past week alone, there has been quite a bit
of speculation surrounding the actions
of Chinese investors ahead
of Lunar New Year, the expiration
of bitcoin futures this week and resulting market manipulation, Ripple insiders selling / cashing
out, Telegrams buyers moving to fiat, the and how large investors are treating tax implications for 2018.
Right now, there are a lot
of exchanges — Chicago Mercantile Exchange and Chicago Board
of Exchange — that have started rolling
out Bitcoin futures.
The launch
of bitcoin futures in December was perhaps the biggest step toward weeding
out volatility from crypto trades.
In an opinion article, published by Chinese business news site Yicai on Friday, Yao summarized the current state
of development
of bitcoin and blockchain technology and offered his view on how the
future of the tech should play
out.
Several investors suggested that another factor could be the closure
of bitcoin future contracts on CME Group, and institutional investors selling large amounts
of bitcoin to purposely bring down the currency's price to cash
out short contracts.
At some point in the
future, you might send your coins back
out of your circle wallet to a
Bitcoin address you own
As noted yesterday, the investor community appears to be warming up to the idea
of moving money
out of equities and bonds and into
bitcoin - sentiment arising from CME Group's upcoming
bitcoin futures listing.
Another potential ramification to consider is that because
Bitcoin futures occur within a regulated environment, it could make it possible to obtain SEC approval for the rolling
out of ETFs.
As for
bitcoin, its
future is playing
out in front
of us now.
Bitcoin futures have become one
of the most popular topics in the finance and cryptocurrency communities but as we wait with baited breath for the first contract to roll
out, the question on everyone's mind is, «How will it affect the price
of Bitcoin?»
For all those cryptocurrency newbies
out there, here is everything you need to know about BCH and what's in store for the
future of bitcoin itself.
Bitcoin is increasingly looking topped -
out as excitement fades over the recent launch
of the first
futures products to focus on the cryptocurrency.
Update, October 29th: It was pointed
out to us that according to the FAQ concerning this
futures market, BTCC will after the fork «consider the version
of bitcoin that has the most proof -
of - work behind it as
bitcoin (BTC)».
He estimates the
future market capitalization
of Bitcoin to reach $ 1.75 trillion by that year, and its daily traded
of volume to reach $ 500 bln
out of the total $ 5 trl traded in foreign exchanges.
But the allegation is Segwit2x is still pushing the narrative that miner support is necessary, arguing that because so much mining power supports its change (roughly 85 % now with F2Pool and Slush Pool
out), it's the correct decision for the
future of bitcoin.
Lasry's comments were in reference to recent announcements by CBOE and CME Group about plans to roll
out Bitcoin futures trading this month, while Nasdaq plans to do the same sometime in the first half
of 2018.
Mazurek pointed
out that
bitcoin can not currently be used for margin payments
of futures contracts, which explains the use
of and WB21 to facilitate payments via acceptable currencies.
The company has had to work to build trust for this roll
out, and any further
future roll
outs, after the launch
of Bitcoin Cash (BCH) support led to a class action
CBOE, Chicago's largest
futures exchange started offering
Bitcoin futures last week and CME, another big
futures exchange based
out of Chicago is set to begin
futures trading on
Bitcoin as well.
For the longer term, Bitmain lays
out a «
future roadmap» that includes a version
of Segregated Witness, Extension Blocks,
Bitcoin NG, Lumino, Schnorr signatures, Weak Blocks, and
Bitcoin Unlimited - inspired base block size increases up to almost 17 megabytes in two years.
People invest in altcoins hoping that someday, one
of these coins will turn
out bigger than
Bitcoin in the
future.
Also read:
Bitcoin Price Hits $ 600, Technical Indicators Bullish The worst
of these failures start
out with promising
futures, generating a lot
of hype and raising large amounts
of starting capital.
One would hope the advent
of a
futures market now will provide us with an idea
of the
future price
of bitcoin and perhaps take
out some
of the speculative bubble element.»
The launch
of bitcoin futures in December was perhaps the biggest step toward weeding
out volatility from crypto trades.
TD Ameritrade CEO Gary Leung claims his is one such firm experiencing increased interest in
Bitcoin futures coming
out of Hong Kong, explaining to the South China Morning Post:
As
futures are designed to balance
out price fluctuations
of underlying assets, it could also make the price
of Bitcoin less volatile.
At issue were the CFTC's the statutory framework and regulatory process within the quirk
of commodity exchanges» self - certification; general discussion
of the commission's authority; oversight tools; product design and governance process
of market makers for clearing new products and evaluating them post launch; and hearing from the market makers themselves about
bitcoin futures» roll
out and the process thus far, including going forward.
This week, Blockstream — a leading provider
of blockchain technologies — has been continuously rolling
out new Lightning Apps (LApps) which give
Bitcoin fans a taste
of the
future.
Both Mr. Concannon
of Cboe and Ms. Winkler
of CME were quick to point
out the relative calm and frictionlessness
of bitcoin futures markets, reminding regulators that neither market was rushed but was instead the work
of many years in coordination with CFTC, brokers, clearinghouses, and the like.
The
future of Bitcoin Cash remains unclear and we have no idea how
Bitcoin Cash is going to turn
out in the
future nor do we know the long term repercussions that it will have on
Bitcoin.
Many had also pointed
out that the ETFs in question would not have been ETFs that comprised
of physical
Bitcoin but those that were made up
of Futures on
Bitcoin.
The
future of Bitcoin is unknown — it may not last, or even if it does, its value could drop and even
out
Speaking to a
Bitcoin meet - up in San Francisco, Kyle Torpey reports that Maxwell made some very interesting statements about the near -
future of Bitcoin — in effect, that the SHA256 algorithm might be pulled
out from underneath the
Bitcoin miners and make their hardware obsolete for mining.
These kind
of challenges are often solved with
out -
of - the - box forward thinking and we hope we might find a few individuals within the
bitcoin community that offer exactly the kind
of brains we need to build a sustainable
future for Madagascar.»
Initially,
bitcoin will be accepted at two
of Yamada Denki Labi stores in Tokyo, but the company plans to roll
out the digital currency payment option nationwide in the
future.
While the Central Bank
of Canada is still trying to figure
out how to regulate
Bitcoin and other cryptocurrencies,
Bitcoin rise seems inevitable in a country where economy may destabilize in the
future.
The chairman
of Roubini Macro Associates, appearing at a Congressional hearing on cryptocurrencies, with as Christopher Giancarlo, chairman
of the Commodity
Futures Trading Commission (CFTC), and Jay Clayton, chairman
of the Securities and Exchange Commission (SEC) testifying in front
of lawmakers about cryptocurrencies took to Twitter to vent
out his opinion on the crash
of Bitcoin's price.
There are
of course those experts
out there who are convinced that
Bitcoin is in a price bubble that is bound to burst in the not - too - distant
future, and that it's a «novelty» (yes, we're looking at you Jamie Dimon).
CBOE has already rolled
out its
bitcoin futures contracts, which they call XBT
futures, with a limited free trading offer for the rest
of the month for its customers.
This product adds another awesome tool to the
Bitcoin.com portfolio and the
Bitcoin Cash community —
Future plans include rolling
out support for the growing ecosystem
of colored coins built on top
of the
Bitcoin Cash protocol.