Bitcoin reached its all-time high of more than $18200 on December 8, 2017. But the price quickly retracted to a low of $13349 on Sunday. However, within just the 24 hours of futures trading, Bitcoin has gained back its throne by achieving a price of $16939. CBOE, one of the latest future exchanges reported that they traded more than 800 Bitcoin futures contracts in just the first two hours of trading — which is seriously impressive as futures trading seemed like the true test for Bitcoin. As of now, the market cap of Bitcoin is $273.8 billion.
It’s also reported that CBOE’s site went down due to heavy traffic, shortly after Bitcoin futures were put up for trading.
Let’s talk about the current price Bitcoin futures, which is $18,630 for January 17 expiration date and $19,140 for February 14 expiration date. Seeing the volatility in the price of Bitcoin, CBOE had to halt the trading several times (this is a normal procedure that’s used to deal with extreme volatility in the prices of futures).
On December 18, both Nasdaq and CME are expected to start Bitcoin futures trading.
Futures allow investors to speculate the price of an asset. A futures’ price, in fact, reflects on the future prices of an asset. This allows large investors to invest in Bitcoin without having to buy any Bitcoins.
For now, the entire prospect seems positive for Bitcoin. We just hope that it stays like this.
If you feel like that it’s too late to buy Bitcoin, maybe, it’s time for you to do some homework. With futures trading on Nasdaq and CME, the prices are expected to go up even further, breaking all the previous expectations.
Note: All content is original & written by NewsCrux Team.