CBOE Bitcoin futures launch this Sunday
|The Bitcoin market is about to hit yet another milestone this Sunday when the CBOE launches the first Bitcoin futures contract.
Trading Bitcoin futures will effectively start at 5 pm Chicago time (2300 GMT), with the market only operating from Monday to Friday, which makes open positions exposed to wild opening gaps next Sunday, with average moves of up to 20% not uncommon. A week later, on Dec 18th, it will be time for the CME (Chicago Mercantile Exchange) to launch the Bitcoin futures.
In a recent article by the WSJ, concerns exist over the potential manipulation, hacks or glitches in Bitcoin, with critics seeing the introduction of the digital currency in futures trading as a gamble. In the last 7 days leading up to the futures listing, the exuberance around Bitcoin, which saw a rise towards the 20k mark in some exchanges, may have been partly caused by the expectations of larger pools of capital entering the market.
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