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CME to launch bitcoin futures

03 November, 2017, 01:06 | Author: Samuel Sharp
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CME Group's introduction of bitcoin future contracts could bring more institutional investors into the arena.

At the time of writing, the price of Bitcoin managed to hit a new all-time high for the third time in nearly as many days, surpassing the coveted $6,000 mark and peaking at a global average of $6,609. That, however, is not stopping many from speculating where they believe the currency will be. Unfortunately, such a device isn't now available, so the chance of seeing where Bitcoin will be in the next 10 years is not possible. Bitcoins have been through a tremendous hike of 800 percent in the last one year.

Surprise, surprise-bitcoin has reached another all-time record-this time cracking well above the $7,000.

Chinese authorities may have halted domestic trading of bitcoin exchanges and critics such as Jamie Dimon, JPMorgan Chase CEO, may have called it 'a fraud, ' but it's had relatively little impact on the currency's overall value.


Setting up a new record in the cryptocurrency history, Bitcoin hit through $6,600 mark on Wednesday. Many people have hesitated to invest in the digital currency because it isn't properly regulated and there aren't enough protections for investors. The whole tremendous run was a good sign that most coin enthusiast and the market have been shrugging the "fork" news and bonanza.

These are just a few and widely varying, examples of where the bitcoin's value could head to in the next decade.

With futures, financial institutions that may have been spooked by the volatility of bitcoin and other digital assets, which often gain or lose double-digit percentages of their value in a matter of hours, would have a way to hedge their bets.

It is evident that there is a growing demand for the world's leading cryptocurrency. "However, if bitcoin breaks the lower support, this would send a very, very bearish signal to traders, indicating a breakdown of the 2-year long bull market", Bitcoin Magazine writes. She has encouraged banks and regulators to learn about the technology, and to be prepared.

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