The price of the Betcairn reached its highest level for the third day in a row, exceeding the price of "6,600" dollars for the first time. The rise came after CME announced that it would add Futures contracts in the securities trading platform. CME, the world's largest stock exchange, said on Tuesday it plans to become the first US-based commercial platform to launch futures contracts. Causing people to be surprised that the group had recently reported last month that it was not planning to list futures for the petrochemical in the near future. However, the platform operator reversed this position, citing the high demand for institutional and commercial financial products that enable investors to deal with the currency of the Bitcoin
The price of the Baitcoin already reached new levels on Sunday, exceeding the threshold of the price of "$ 6,300", where the announcement of the group "CME" fuel that led to the movement of the price of Betcquin this way. In view of the need for further expansion of the schemes. Shortly after the announcement, the price of the Betcairn rose above the $ 6,400 price, keeping this progress throughout the rest of the day. Despite this rapid advance, the price of the Betcairn rose further on Tuesday to $ 6,600 on the trading platform "Coinbase", hitting a new all-time high of $ 6,619. As a result, the market value of the petrochemical has increased to more than $ 110 billion, with the dominant share of the total market capitalization of the digital currency market increasing by nearly 60%.
On the other hand, the official list of CME futures contracts scheduled for the end of the year is likely to lead to further price hikes and large capital injections by Wall Street companies. In addition, the presence of futures contracts should enable the Securities and Exchange Commission (SEC) to initiate a review of Bitcoin's ETFs and funds traded on Futures Trading Platforms. Thus, the Betquin investment funds that will be available to retail investors will offer more liquidity to the ecosystem. Many analysts expect that its launch will cause a further escalation of the price of the Betcairn, which may reach $ 7500 or $ 10,000 in the near future.
Of course, the rapid rise in the price of the Betquin as a response to the announcement indicates that these developments have already been fairly priced, so the price of the Betcairn may see a moderate correction if the regulators take a hostile stance on futures or ETFs trading in those contracts. However, Terry Duffy, Chairman and CEO of CME, said the platform operator is working closely with regulators to bring these financial products to the market, and that the regulations imposed by the platform are not expected to release biotech contracts .