CME Bitcoin Futures breaks a record, and increases in 2019 to 250%
Home News CME Bitcoin Futures breaks a record, and increases in 2019 to 250%
Marcel Knobloch –
The Bitcoin Futures contracts of the Chicago Mercantile Exchange (CME) broke in may, both in terms of volume as well as the open positions for new records. Industry experts see this as a significantly bullish Signal for the crypto market.
In a liquidity report, the CME Group shows that the may with 223 new trading accounts a massive growth, and thus the most successful month for the Bitcoin Futures product since its launch in December 2017.
The average daily volume amounted to 13.777 contracts or something to 515 million USD, an increase of 26% compared to April and 250% compared to the previous year. Tom Lee, head of research at Fund came to be translated and self-confessed Bitcoin-COP-leads (free):
This is very optimistic, as the rise of the Bitcoin-Futures-reflects volume, the incremental institutional money.
Since CME record highs for Bitcoin-Futures-listed contracts, withdraws the Chicago Board Options Exchange (Cboe), the world’s largest option market, from the market. In mid-December 2017 the Cboe was the first U.S. stock exchange, the Bitcoin has brought Futures on the market. At the time, pushed this step, among other things, the price of Bitcoin to dizzying heights of the past 20,000 USD. Insiders expect, however, that the last Bitcoin Futures contract will expire on 19.06.2019 and probably no new Bitcoin Futures market launched, since the stock market evaluates the trade with its derivative product CBOE Bitcoin (USD) Futures (XBT) new (freely translated):
CFE will record in March 2019 no Cboe Bitcoin (USD) (” XBT”) Futures contract for trading. CFE is currently considering its approach, as further derivatives for digital assets for trading are to be offered. CFE does not currently intend, additional XBT Futures contracts for the commercial list, although the next steps to be considered. Currently listed on the stock exchange XBT Futures contracts still available for trading.
Fund Analyst, joined: Now is the time to buy Bitcoin to
According to a technical analyst of the Fund, Global Advisors is a good time to joined now to buy Bitcoin. According to Rob Sluymer the relative strength index (RSI) shows, Bitcoin is gradually an upward movement in the dynamics of Bitcoin, according to Bloomberg (freely translated):
Another upward attempt seems to develop for most crypto-currencies. Exposure increase. We assume that Bitcoin will see a further rally from the current levels, the next resistance is between 8.800 and 9.000 dollars.
SLuymer also highlights the impressive performance of Litecoin, and advises customers “to use short-term Pullbacks will continue to Accumulate”.
In contrast, the Analyst Crypto Thies tells his to 28,000 followers on Twitter that the 3-day RSI looks good. He clearly sees the warning signs for BTC and sold his Bitcoin for Tether, to see if the leader can close 8.200 USD.
According to Imkar Godbole from CoinDesk, a long-term Bitcoin could indicator to develop soon for the first Time since the end of 2015, interest bullish.
The opinions of analysts vary greatly, so it is not clearly predicts the direction in which the price of Bitcoin will be in the short and in the long term, develop. The Coinbase newly launched crypto-map is pushing the adoption of Bitcoin is crucial, since a large number of customers, can pay, among other things, also in Germany, in the future, your coffee with Bitcoin.
Featured Image: Wit Olszweski | Shutterstock