Bitcoin futures fell in price once the world’s largest exchange, the CME Group opened trading. First, the January contracts on bitcoin futures jumped to $20 800, but soon fell to $18 000. The contracts, which expire in February, March and June, while estimated at $20 000. Obviously, this event could not remain without attention of the media.
Comments to the media
The mainstream media in their submissions on the bitcoin exchange rate has not managed and this time without the terms “bear” or “bubble”.The Telegraph announced the fall of the price of the cryptocurrency using the title “the price drops after bearish reversal”. This is despite the fact that a drop of 4% is insignificant for the world of cryptocurrency.
Comments BBC on the occasion of the opening of the market CME was similar. According to the publication, the adoption of bitcoin a major exchange makes it a step closer to public acceptance. However, the BBC felt it necessary to continue this article with a quote by UBS Chairman Axel Weber, who said that “bitcoin is not money”.
Contracts on the CBOE
There is a considerable contrast between the launch of futures on the CME. After opening trading on THEIR bitcoin grew by 19%. However, it is worth considering the fall of cryptocurrency for a few days before the opening of trading. That is why significant growth was not unexpected.
CME launched futures trading at the time of record-high values of the exchange rate of bitcoin, but because there is nothing dramatic in a small drop.
There are several theories about the prospects of bitcoin after the opening of the CME market. Although there are legitimate reasons for investors to close the contracts still need to take into account the trend. Even well-known hater of bitcoin, CEO of JP Morgan Chase Bank Jamie Dimon acknowledged that the currency could grow to $100,000 before the collapse. This view is shared by the investor and founder of Interactive Brokerage Thomas Peterfi.