After the Bitcoin Futures from the CBOE and CME have been announced for the first time in mid-November 2017, experienced Bitcoin an incredible Run to more than 16.300 Euro. The launch of Bitcoin Futures, self-heralded, however, a reversal of the trend. Since the launch of the Bitcoin exchange rate, apart from short periods of recovery, only one direction – down. On 26.01. from now run the first CME Bitcoin Futures. Hope for a reversal of the trend for the crypto market?
17. November were published first announcements of the CBOE and CME that they are the first to offer Bitcoin Futures. To the Financial Times, Terry Duffy, CEO of the Chicago-based CME, said the exchange was preparing for the introduction of a Bitcoin Futures product until the second week of December.
As the following Candle Chart for the last three months, highlighted this announcement, the launch of the crazy, extremely volatile price movements in the last weeks and months.
According to the official announcement of the Bitcoin Futures, a rapid increase in the Bitcoin exchange rate of 7,000 to 15,000 euros, has been observed. The increase was only interrupted by the Start of the CBOE.
On 18.12.2017 the CME are then launched Futures. After that, a massive price fall of Bitcoin of 16.300 Euro was under 12,000 euros. With this course of movement, the support zone was broken up by 13,000 euros, which was used until then as a resistance.
As the CME Futures last week, on 17. January ,expired, Bitcoin lowest price of the year.
Now is suspects on Reddit and many other platforms, the on 26. January end-of-Bitcoin could have Futures contracts on the CME, a similar, if not greater, effect. In view of the fact that the CME is one of the world’s largest stock exchanges, and the contract sizes are often larger than in the case of the CBOE, could prove to be a presumption. The bitcoin price could just fall in, like last week, when the Future-investors will sell their BTC, so that further Stop-Loss Order triggered, and thus their Bitcoin Future bets to win, and thus your winnings maximize. Whether such market manipulation actually takes place, of course, can’t be proved. However, the above Chart shows a close temporal correlation between the Bitcoin price and the Bitcoin Futures.
The support area of 7,000 Euro (orange line) could mark the bottom of the valley. With the termination of the CME Futures could follow the turn of a trend. Not just Bitcoin but also Altcoins, which follow the Bitcoin as a reserve currency, could usher in the turn of a trend.
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