Since this Sunday, bitcoin has come out of the underground sphere to enter full foot in the big bath of financial institutions. This Sunday, the CBOE (Chicago Board Options Exchange) has indeed launched the first contract on cryptocurrency, a major speculative instrument. And it's a success.
The one-month contract opened at $ 15,460, fell back briefly and then peaked at $ 18,700. Around 06:55 GMT, it was up by almost 20% to 18,500 dollars, with 2,425 contracts treated.
This introduction is seen as a sign of legitimacy given by the world of traditional finance to virtual currencies. And offers a curious flashback: at the heart of the 2008 financial crisis caused by completely irrational derivatives, a person named Satoshi Nakamoto, pseudonym of one or more people, wanted to react to the danger of excessive banking centralization by inventing a new currency, Bitcoin. A bitcoin now also subject to the law of derivatives.
Still, this first futures contract will not be the last. The CME (Chicago Mercantile Exchange) group is expected to launch a similar futures contract later in December, and the Nasdaq will do the same in the second half of 2018.
In short, the bitcoin craze is just beginning, these leveraged instruments will mechanically strengthen the volatility of crypto-currency. The price of bitcoin will likely surge towards $20,000, as noted by Dwyer and prominent investors like Max Keiser and it's good for business...