The World of Cryptocurrency - Bitcoin's Futures Expired
End of last year, the two huge Futures Contracts Firms that were both based on the US launched their first Bitcoin Futures Contracts. These are the Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) both launched their Futures Contracts last December 10, 2017 and December 17, 2017 respectively. Futures Contracts simply means buying or selling of something at today's price to be delivered in the future as per the agreement stipulated in the contract. The price will now be fixed regardless of the movement in the market - many speculations that were circulating in the web that the whales of wall street will somehow manipulate the price of bitcoin in the market for them to maximize their profit.
Last 17th of January 2018, CBOE Bitcoin Futures Contrast has just expired and closed at 10,900 dollars of bitcoin price - that was 36% dropped right after the CBOE's contract expired and followed by CME several days later. If we look closely at the trend of Bitcoin's price right after the futures contract was expired, there is a visible effect on the market but not that much as we have expected. Before the contracts end, many were creating FUD in the web which triggered fear among the cryptonians. Many speculations that bitcoin will drop as much as 8,000 dollars right after CME expires its futures contract but it doesn't happen. It's been more than a month that bitcoin has no sign to rise up. I really missed those days in which we are thrilled on bitcoins' impressive run at the highest mark of 20,000+ dollars. I'm hoping that bitcoin will get back to its track and ready to skyrocket again.
I don't know why anyone was ever pleased about bitcoin futures
Yes it means we're mainstream - but it also means we're open to the greed and manipulation of the crooked investors of wall st.
they were just fear on how volatile bitcoin is. they want to protect their assets through futures contracts. :)
I hope so too, Bitcoin future contracts what is main Objective?
Futures contracts is a hedge against sudden change of price in the market. It protects both the buyer and seller from any lose whenever the market value dropped. AS we all know that bitcoin is so volatile, its like a rollercoaster ride. Both buyer and seller sign a contract with an agreed price which will be delivered in the future. This will simply regulate the price of bitcoin and protects from being so volatile.
@jephline Question help me to learn one of two thing. thanks for the post
what are those things?
UK Crypto Trader Forced to Hand Over Bitcoin at Gunpoint
https://steemit.com/bitcoin/@ajaydodeja/uk-crypto-trader-forced-to-hand-over-bitcoin-at-gunpoint
so sad there are persons like that :(
Everyone made out like January 26th was going to be the new Y2K for crypto and that the price was going to dramtically spike up or down. January 26th came and went and it barely moved. I do not know why I listen to anyone who speculates price on bitcoin anymore. 99% of them have not idea what they are talking about.
hahahahha LOL
me too im waiting for the jan 26th. That date is the time for CME contract to expire and they were expecting a big movement of bitcoin in the market but what happened is.... LOL
Bitcoin when will rise again?
I have invested in bitcoin.
Now come to Los Angeles.
Bitcoin surely will rise again but when that time to happen is very difficult to predict since there were so many factors to be considered. but right now, bitcoin is on the verge of battle against all detractors such as government who banned btc in their land, those hackers who stole million of dollars in exchanges and etc. If these things btc will overcome then surely it will rise again. :)
Well to me i dont think bitcoin has a future in the market cuz with the current rise and fall bitcoin cant hit $16,000 again
If bitcoin will survive through this great tribulation, if it can survive those events wherein countries upon countries banned bitcoin in their land, exchanges has been hacked and millions of dollars lost - If these things will be overcome then surely bitcoin will skyrocket again. :)
Why do you think that?
Very informative! Thank you!
oh, thank you bro, voted
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ows, thanks then
For me i don't think bitcoin has a future in the market, thanks for the Info..
somehow i agree with you
Good publication :) I liked it.
I'm glad to follow you
thanks bro
There is every reason to be optimistic. After the bearish run two weeks ago that brought about 48% dropped in value and resistance against futures , I personally hope that bullish run will continue .
we are all hoping that the bitcoin will get back to its track and continue to rise.