The bitcoin markets have responded positively to the launch of bitcoin futures, the price increases

The bitcoin markets have responded positively to the launch of bitcoin futures, the price increases

Despite the assumption that the bitcoin futures will make this asset less volatile, the launch of futures on the CBOE tonight caused a sharp rise in the price of the cryptocurrency the number one.

Futures trading began in the morning in Kiev on 11 December at a price of US $ 15,000, which corresponded to the price of one bitcoin on the exchange, Gemini .

As at the time of publication of the article, approximately eight hours, the price of bitcoin rose to $16,842 for Gemini. Futures expiring in January 2018 traded at the level of 18500 U.S. dollars, representing an increase of 3,500 USD. This rapid increase in futures prices has already triggered two “circuit breakers” and threatens to trigger a third. CBOE implemented the so-called circuit breakers to give traders the ability to suspend trading and to reconsider their positions in case of sudden price movements. Any profit or loss exceeding 10%, runs the two-minute stop trading, while the transition to 20% or more will result in suspension of trading for five minutes.

As we reported earlier today, the launch of its CBOE futures product based on bitcoin (which is traded under the symbol “XBT”) caused a sharp increase in demand that the website of the stock exchange fell almost immediately. For the last eight hours, sold around 2,000 contracts. Each contract is a one bitcoin, which means that the volume of trading amounted to more than $ 30 million in just a few hours. This is particularly noteworthy because Wall Street traders usually work from Monday to Friday. It is obvious that we will have more news.

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