Bitcoin futures trading began: the consequences and forecasts
Last week, the entire Bitcoin community was alarmed by the news of the imminent start of trading in Bitcoin futures. In fact, this meant the recognition of kryptomonet as a financial instrument by a significant part of the players in the traditional financial market. All this provoked an exponential rise in the rate of Bitcoin against the dollar. True, initially rising to $ 18,000, the rate then fell to $ 13,000, but in a couple of days it almost returned to its previous positions.
Interestingly, right after the start of trading, the site of the Chicago Stock Options Exchange “fell” for some time. Representatives of the exchange said that interruptions in the work of the site were associated with a high load due to the influx of people wishing to participate in the process of trading in Bitcoin futures. Bidding began at about two in the morning in Moscow, after which the rate of the coin went up immediately to 2 thousand US dollars.
By the way, the first to announce the start of trading in Bitcoin futures is CME Group, an international commodity exchange. Start is scheduled for December 18th. In order to bypass the competitor, the auction on December 11 was launched by the closest competitor to the CME Group - the Chicago Mercantile Options Exchange, as discussed above. Thus, the exchange decided to lure some of the customers of the above company. At least those who are interested in cryptocurrencies. Both exchanges managed to convince the financial regulator of the country (USA) that Bitcoin futures are a reliable instrument that meets all the necessary standards. The emergence of futures allows you to start working with Bitcoin already and large investors. Previously, they could not perform the relevant operations without a legal tool.
With the fact that bitcoins and futures on them are not a financial instrument in the traditional understanding of this term, some market players do not agree. For example, the head of the United States Futures Trading Association, Walt Lacken, wrote an open letter to the Commodity Futures Trading Commission. He warned that with the start of trading, the risks of fraud and manipulation increased, and trading platforms could not protect their customers in such cases. Precisely because contracts for Bitcoin are not the usual financial instruments, but something different.
In themselves, futures are exchange contracts for the purchase / sale of an asset. The parties signing the contract agree on the price in advance, specifying the date of transfer from the seller to the user. It turns out that futures are fixed value of a certain product at a certain point in time. If the trader guesses with the purchase, he makes a profit, miscalculates - loses the funds.
Bitcoin futures on the world's largest exchanges simplify the procedure for betting on raising or lowering bitcoin. Perhaps this contributes to a decrease in the activity of the course change, both upward and downward. Already, the course holds about the same mark - $ 16,000.
According to some financial analysts, Bitcoin itself, and not futures for it, remains a more profitable investment. That is why the bulk of liquidity can remain on the crypto-exchange, and not on the CME or CBOE. Nevertheless, the launch of futures trading on the Chicago Stock Exchange has already led to the appearance of funds from major American funds and private investors in the cryptosphere.
What happens to the course? It is clear that now it is difficult to make accurate forecasts. But the Winkloss twins, the first bitcoin billionaires, believe that the current appreciation is only the start, the beginning of the growth of the cryptocurrency rate. Cameron Winkloss claims that Bitcoin will replace gold, and its rate will increase 20 or more times compared to the current one. In principle, it is profitable for him to say so, since the forecasts made by experts partly influence the course of Bitcoin. It can be said, win-win strategy - you say that the course will rise, it rises, because everyone says that the course will grow, and you get the money.
Anyway, Winklevoss believes that soon the total volume of the cryptocurrency market will be $ 6-7 trillion. That's because investors come to the crypto business, miners are getting more and more active cryptocurrency, money in the field is becoming more and more.
“We believe that Bitcoin is a substitute for gold,” Winklevoss said. “Most likely, this is just the beginning. And we are not going to spend anything. ”
It is worth noting that the twins invested in Bitcoin back in 2013, when they bought coins for $ 11 million. Then many of their colleagues in the shop were surprised at such a large amount, which is not clear for what. But precisely because of this investment the capital of the brothers is estimated at $ 1.7 billion. And its volume continues to grow. Perhaps the twins continue to buy bitcoins.
By the way, despite the success of cryptocurrency, they still meet resistance in the face of representatives of the governments of many countries. For example, the Israeli bank Leumi blocked the transactions of popular cryptocurrency services. The explanation is simple - the financial regulator of the country has banned these transactions in the fight against gambling. So, Leumi bank users report the impossibility of transferring payments to the Coinmama bitcoin service. Also, Shmuel Hauser, chairman of the Israeli Securities Agency, recently compared the universal craze for cryptocurrency with the 19th century gold rush.
Interestingly, right after the start of trading, the site of the Chicago Stock Options Exchange “fell” for some time. Representatives of the exchange said that interruptions in the work of the site were associated with a high load due to the influx of people wishing to participate in the process of trading in Bitcoin futures. Bidding began at about two in the morning in Moscow, after which the rate of the coin went up immediately to 2 thousand US dollars.
By the way, the first to announce the start of trading in Bitcoin futures is CME Group, an international commodity exchange. Start is scheduled for December 18th. In order to bypass the competitor, the auction on December 11 was launched by the closest competitor to the CME Group - the Chicago Mercantile Options Exchange, as discussed above. Thus, the exchange decided to lure some of the customers of the above company. At least those who are interested in cryptocurrencies. Both exchanges managed to convince the financial regulator of the country (USA) that Bitcoin futures are a reliable instrument that meets all the necessary standards. The emergence of futures allows you to start working with Bitcoin already and large investors. Previously, they could not perform the relevant operations without a legal tool.
With the fact that bitcoins and futures on them are not a financial instrument in the traditional understanding of this term, some market players do not agree. For example, the head of the United States Futures Trading Association, Walt Lacken, wrote an open letter to the Commodity Futures Trading Commission. He warned that with the start of trading, the risks of fraud and manipulation increased, and trading platforms could not protect their customers in such cases. Precisely because contracts for Bitcoin are not the usual financial instruments, but something different.
In themselves, futures are exchange contracts for the purchase / sale of an asset. The parties signing the contract agree on the price in advance, specifying the date of transfer from the seller to the user. It turns out that futures are fixed value of a certain product at a certain point in time. If the trader guesses with the purchase, he makes a profit, miscalculates - loses the funds.
Bitcoin futures on the world's largest exchanges simplify the procedure for betting on raising or lowering bitcoin. Perhaps this contributes to a decrease in the activity of the course change, both upward and downward. Already, the course holds about the same mark - $ 16,000.
According to some financial analysts, Bitcoin itself, and not futures for it, remains a more profitable investment. That is why the bulk of liquidity can remain on the crypto-exchange, and not on the CME or CBOE. Nevertheless, the launch of futures trading on the Chicago Stock Exchange has already led to the appearance of funds from major American funds and private investors in the cryptosphere.
What happens to the course? It is clear that now it is difficult to make accurate forecasts. But the Winkloss twins, the first bitcoin billionaires, believe that the current appreciation is only the start, the beginning of the growth of the cryptocurrency rate. Cameron Winkloss claims that Bitcoin will replace gold, and its rate will increase 20 or more times compared to the current one. In principle, it is profitable for him to say so, since the forecasts made by experts partly influence the course of Bitcoin. It can be said, win-win strategy - you say that the course will rise, it rises, because everyone says that the course will grow, and you get the money.
Anyway, Winklevoss believes that soon the total volume of the cryptocurrency market will be $ 6-7 trillion. That's because investors come to the crypto business, miners are getting more and more active cryptocurrency, money in the field is becoming more and more.
“We believe that Bitcoin is a substitute for gold,” Winklevoss said. “Most likely, this is just the beginning. And we are not going to spend anything. ”
It is worth noting that the twins invested in Bitcoin back in 2013, when they bought coins for $ 11 million. Then many of their colleagues in the shop were surprised at such a large amount, which is not clear for what. But precisely because of this investment the capital of the brothers is estimated at $ 1.7 billion. And its volume continues to grow. Perhaps the twins continue to buy bitcoins.
By the way, despite the success of cryptocurrency, they still meet resistance in the face of representatives of the governments of many countries. For example, the Israeli bank Leumi blocked the transactions of popular cryptocurrency services. The explanation is simple - the financial regulator of the country has banned these transactions in the fight against gambling. So, Leumi bank users report the impossibility of transferring payments to the Coinmama bitcoin service. Also, Shmuel Hauser, chairman of the Israeli Securities Agency, recently compared the universal craze for cryptocurrency with the 19th century gold rush.
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