Futures Market Looms, Bitcoin Climbs to $12,000

Futures Market Looms, Bitcoin Climbs to $12,000

Futures Market Looms, Bitcoin Climbs to $12,000

$BTCUSD, $CME, $CBOE

Bitcoin surpassed $12,000 for the 1st time on investor’s speculation that the widespread use of futures will help lead to digital currencies being viewed as a legitimate asset class for mainstream investors.

Bitcoin is currently trading at: 12,219.9951+493.40 (+4.21%), as of 5:27a GMT. Market open.

The largest cryptocurrency by market value has soared from less than $1,000 at the start of the year as optimism climbs for the distributed ledger technology known as blockchain that is at the heart of Bitcoin.

The parabolic price rise has been accompanied by growing of warnings that the speculative frenzy is an asset bubble poised to burst.

 Cboe Global Markets Inc. (NASDAQ:CBOE)  has said it will start trading Bitcoin futures on 10 December while CME Group Inc.’s (NASDAQ:CME) contracts are set to debut on 18 December. Nasdaq Inc. is planning to offer futures in Y 2018, Cantor Fitzgerald LP’s Cantor Exchange is creating a Bitcoin derivative, and startup LedgerX already offers options.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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