XBTC trading opens at CBOE. Big shorts? NOPE !!! Slight up tick in BTC price in the initial futures contracts
Big milestone for BTC. Futures trading has started on CBOE.
We are about 90 minutes into the initial XBTC session, which opened for trading at 5 pm Eastern.
Did the predicted BTC crash happen? Did all the BTC shorts show up and take the price back below $10,000?
NOPE!!
Future trading slightly higher than the open. The big price crash due to BTC shorts that many in main stream media have been forecasting hasn't materialized. Yet.
Perhaps financial issues like BTC Futures is just one more area in which the MSM has no idea what they are talking about? But that doesn't stop them from moving their lips.
Interesting that the price for Jan 17, 2018 is trading at $15,900 early into the initial session.
That price increase would represent a very small 2% or 3% gain in the next 40 days for BTC.
If that trend holds, it would represent a serious slow down in the rate at which BTC price has been spiking over the last week or so.
I think everybody is waiting for the CME futures listing, that one will have a lot more volume and liquidity than the CBOE contract.
The current recurring comment I see is that the shorting will come with the "real futures" in a week, and not today. I have absolutely no idea if people are right on this! Just the thing I keep seeing casually reiterated today.
I mean, it will also need courage to bet bigtime on a Bitcoin price decline
Always gotta pick a point to bet on with any move :) shorting it just usually harder to get done than holding the asset itself, so I think people try it a lot less.
I will be closely watching to see what happens.
The price of futures contracts are slowly rising. March 2018 contracts are now trading at $17,020.
Four hours into the trading session.
And we see the current price of BTC going up to match the futures. BTC already trading over $16K percoinmarketcap.
I can't wait to see what happens, thank you @davebrewer.
Looks like futures are pointing to the moon. This is the entry for all the "big Wall Street money".
And they are pointing to big price increases for BTC.
That will make a lot of us that are holding a small amount of BTC happy! I started out with no investments, just the coins Steemit gave me when I joined last September and now I am worth almost $30,000 if I cashed out right now. I'm holding all my coins though. And buying more when I can afford too. I didn't have to sell one of my paintings.....hahaha <3
The "Big boys" won't start messing with it for a bit until they have some data to defend their actions to their bosses. Also the total market size currently is $1.156M according to the CBOE Chart in the article. (68 futures * $17K) So it's too small to do anything yet.
it would be interesting to follow up the whole situation
initially the thing looks good but lets see how it goes along with time
Its quite comical to here MSM and ordinary people talking bitcoin! They literally have no idea what they're even talking about, well most, lol. Nice write.
we will not see btc below $10 k for sure