Bitcoin prices peaked at $7439 on the 3rd of November inching closer to the $7500 point. However for many the possibility of reaching $10000 by the end of the year has been rekindled following the unusual stability of bitcoin markets and developments in bitcoin futures trading with potential to develop into a full blown Bitcoin ETF.
With exchanges such as CME planning on launching a bitcoin futures exchange, trading will be opened to a entirely new type of client. With many investors prevented from investing in bitcoin and respective cryptocoin due to legal restrictions, having a tightly regulated and reputable exchange is set to bring billions of dollars of fresh liquidity into current bitcoin markets set to grow rapidly. The race to launch the first mainstream bitcoin futures exchange is on as CBOE has also partnered with crypto exchange Gemini to develop a trading solution.
“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract. As the world’s largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities.”
News of a potential bitcoin ETF is also circulating despite previous attempts to get the project off the ground. While the Winklevoss twins unsuccessfully attempted to launch a Bitcoin ETF, chances of a fund launching next year are increasing given the support from major US crypto players like CME and LedgerX. Similar to normal ETFs, bitcoin ETFs allow safe investment of fiat into Bitcoin markets regulated by the state.
To conclude, with considerable developments such as a Bitcoin ETF in the works,. many have confidence bitcoin prices will be able to breach $10000 by the end of the year. With current prices set well above the $7000 price point, we only have $3k left ot climb. News of a bitcoin futures exchange to be launched by CME possibly by the end of the year has also sparked significant interest among traditional investors considering the platform is by far the biggest futures exchange in the world.
You can purchase bitcoin at Nigeria’s leading exchange NairaEX, at market premium rates and have your bitcoin delivered within a matter of hours to avoid this opportunity with potentially huge profits !
Disclaimer : Please invest at your own risk. This article does not constitute trading advice and remember losses can exceed deposits so please trade responsibly !