Bitcoin futures successfully launched earlier today on the CME exchange in Chicago. Signaling the open of the biggest events of the decade so far for Bitcoin, the cryptocoin has officially made one of its biggest debuts on the investment scene. Institutional investors are rushing to get into the explosive Bitcoin market as Bitcoin futures were valued at $20650 as markets opened.
Parallels to CME’s launch of Bitcoin futures were drawn with that of the Chicago board options exchange. CBOE also launched Bitcoin futures to the public recently, but drastically underestimated the popularity of the new service. Crumbling under pressure, the service effectively ground to a halt as hundreds of consumer attempted to access the option every minute. The future for the trade of Bitcoin futures also looks bright considering the likes of NASDAQ, one of the America’s stock exchanges, are also rumored to be developing Bitcoin futures trading services for its clients.
To conclude, we may see Bitcoin prices stabilize over the Christmas period as predictions remain optimistic according to the futures being traded. Within the first hour the majority of futures being traded valued Bitcoin at well over $20,000 on January 2018. However as trading ensued, Bitcoin futures on the exchange stabilized at the $19010 mark which still represents considerable stability for the coming months. The sheer volume of futures being traded also came as a surprise as well over 1000 have been sold for January alone. The impact of Bitcoin markets is set to reflect the positive interest from the US as analysts believe the trade of futures has allowed more credibility to be applied to Bitcoin markets and the added liquidity will ensure the relative stability of markets despite concerns of a bubble emerging as prices increase exponentially.