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Home Cryptocurrency

CME Group: Bitcoin Futures Could Launch Early As Second Week of December

by admin
November 13, 2017
in Cryptocurrency, Market News
0
CME Group: Bitcoin Futures Could Launch Early As Second Week of December

CME Group Bitcoin Futures Announcement

Bitcoin and cryptocurrency investors received some great news on Monday, as CME Group, Inc. (NASDAQ: CME) CEO Terry Duffy announced that that Bitcoin futures could debut trading in the second week of December 2017. Duffy says that Bitcoin futures are not meant to solve the violent swings that the cryptocurrency is known for, but instead serve as another venue for investors to deal with the choppiness. “I am not trying to rein in the volatility of Bitcoin,” detailed Terry Duffy. “I am trying to manage the risk of products,” he said.

CoinDesk 2017-11-13 at 6.46.30 PM
CoinDesk 2017-11-13 at 6.46.30 PM

Bitcoin futures launch was first announced by the exchange operator in late October, which caused the price of Bitcoin to surge nearly $1,000 to an all-time high of $7,458. However, prices have retreated since then and currently stand at $6,667. After a particularly volatile weekend, some analysts are blaming the swings on the cancelled upgrades or so called fork, which would have created another version of Bitcoin with even greater processing capability. Bitcoin Cash is the result of the latest split, which took place back in August 2017. While this cancellation may have temporarily stalled the rally, investors are now focusing fully on the launch of Bitcoin futures and the potential value it could bring to the underlying price of the asset.

Overall, the CME Group, Inc. announcement is a major step forward in the cryptocurrency movement. Bitcoin futures will allow institutional investors to truly access the emerging market. Utilizing institutional investor support, this could be a major step in legitimizing Bitcoin and cryptocurrency on a massive scale.

If the Bitcoin futures can be successfully launched without any major hiccups, this could also show other countries like China, that there is a way to thrive under Bitcoin. However, these futures will not be for the faint of heart and beginners are urged to stick to other alternatives to investing in Bitcoin without utilizing futures.

 

Tags: BitcoinBitcoin CashBitcoin futuresCME GroupCryptocurrencyemerging growthfuturesinstitutional investorsinvestmentmarket newsnewssplitSpotlight GrowthSpotlight Growth Stocksupdatesupgrades
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