Bitcoin Forum

CME is planning to start testing Bitcoin futures trading 4 days from now (20th of November),
Now already see the effect to bitcoin, prices started rallying heavily &  this is actually good news for the US people.

So based on the good news from CME ,bitcoin silver fork bitcoin will reach 10K as per the experts predictions, or even more!  ;D

What do you think?  :-\


Bitcoin Futures Could Begin Trading As Soon As December 
SOURCE: https://www.coindesk.com/cme-ceo-bitcoin-futures-begin-trading-soon-december/

I just hope it isn't a clusterfuck of newbies not understanding how bitcoins work and trusting an institution with their money.

I think it'll bring a lot of fiat into the bitcoin territory but I don't really know if it'll necessarily be "good" for bitcoins.

Well the CME futures won't bring "a clusterfuck of newbies" because anyone buying futures won't be hitting the fucking blockchain! They'll be buying futures in Bitcoin over the Chicago Mercantile Exchange (CME). Their transactions will never actually own bitcoin, they'll never touch the blockchain.

The firms that will be offering the futures will need to buy Bitcoin as reserves to cover the futures bets their offering to their customers. So it's a buy and hold consequence on the blockchain and we should already be seeing the effects. These wirehouses (brokerage firms) have ealready been acquiring bitcoin. The CME date is just when these firms can start offering trades to their clients.

The prices have already increased by some 15% during the last 48 hours. And with the latest development, I expect the prices to reach $10K per coin. I was expecting this price somewhere in the mid-2018. Now it seems like we will be having $10,000 per coin by the end of this year.

This is a good news to crypto currency world.

I am going to sell a good part of my bitcoins by the next wednesday, so the only thing that i want is just to see bitcoin at $9000 before i sell them, lol  :P
It would be huge guys, if this happens then bitcoin would skyrocket by a lot of money, i can really expect to see the price over more than $8500 if it happens, maybe a little bit more, because this a huge step for bitcoin.
Seeing it listed on the CME for futures is just like having it accepted by the US or from the international bank.
Lets pray to see it going up for much more money.

Yes, it will have an influence on the price, as it already has. In the beginning influence on price it is positive, but this will allow short bets on bitcoin where hedge funds can try to draw down its price, especially if there is a threat to bitcoin on the horizon, as it happened this year with China or forks. I am pretty confident this will just add some volatility, but bitcoin will stay strong.

Wasnt it supposed to be happening on december? it is impossible, it makes no sense because they need more than six months in order to start trading bitcoin as futures.
It needs more time to be listed, because they need to pass through a lot of legal aprovements and it is not going to get done just in four days. And i think that the process can not be accelerated only in those days.
But if it happens, then it will impulse the price a lot, and we all know that, just knowing that bitcoin is being accepted by those kind of institutions makes those who havent invested yet think about the possibilities to still earn much more money than before

I thought it was supposed to be live on the second week of November?

Anyways this is good news overall since this will open a wider door for institutional investors to test out bitcoin live and see whether it will fit their business model. The reason why big money isn't invested yet is because there are no strong regulations imposed on bitcoin yet which increases their risk of getting burned. There would be a lot of positive reaction once it's approved and goes live and might cause another insane push in price.

The title is very misleading if that was the intent of bitcoincollector03, or he doesnt know the meaning of the word regulate (http://www.dictionary.com/browse/regulate).

CME has no power to regulate anything. It is a marketplace for some of the riskiest financial derivatives made for bankers and traders funded by financial institutions.

You sounded like an expert  ;D Perhaps you can share your prediction  ;D

They have their own plan on that. They will try to stabilize it and disabling/enabling trading of bitcoin when the price on the loose. But ofcourse that will not work because of the volatility.
Check out the videos of CNBC interview to CME.  ;D here you go: https://www.youtube.com/watch?v=gh0SlSdR2jY

That's the first thing I thought.   Government can regulate securities, not a commodities exchange.   

I do find the whole situation interesting, since I can vividly recall 2008 when these derivatives got the whole banking system in trouble and lots of people lost their homes, jobs, and a lot more.   I do think this will have a significant impact on bitcoin but I'm not savvy enough to predict which direction bitcoin will go.   But seeing as we're in a raging bull market, I think we're going higher--and that's not blind hope talking, it's momentum.   I will be watching with great interest.

They're trying to mitigate some of the volatility for their customers, not Bitcoin. That's the only regulation or anything along those lines that they've talked about.

Good news, more profit  ;)

I am actually expecting more volatile bitcoin price after this, all wallstreet traders want profit out of every asset they touch. With bitcoin they can get way more than usual assets they trade so that they might exit before others with really massive profit after hyping and pumping the price.

$10K per coin is definitely coming. I'm not entirely sure whether it will happen within this year. But it will happen.

Agree their fiat money wont actually toucj the block chain if you know how futures work. A futures contract is basically two parties agreeing to a contract price and putting in a so called buffer money in place, one of them is betting for the commodity to go up the other is betting on it going down. They dont actually have the goods on hand, it is purely cash transaction. They have the buffer money in place because everyday that the price moves they will either add or deduct from one another if the price goes up or down depending on which one they are betting. This is where it gets complicated because already big banks are involved in the crypto world and they usually like to manipulate the markets. So think of it as having more of a risk in terms of big banks monopolizing btc and playing with the supply and demand of it just so they can benefit from the futures contract thay they bought.

this new now add 4% to price and i think it just start to be bitcoin accepted in all sites

There can also be other reasons for current pump but definitely this can be one of the many other reasons.

We have to wait next 4 days to know what will be actual effect on bitcoin's price once CME will list bitcoin future for trading.