Will Bitcoin hit $8k in December due to CME

[Hydrogen]

Crypto futures may be just another exchange where crypto is traded. There probably won't be anything groundbreaking or noteworthy about it. Gold and equities futures markets trade in the off hours of their trading days. Crypto trading is 24/7. There will be no true futures market in crypto as trading hours aren't limited. Futures will be just another exchange. It probably won't matter at all.

The main relevence of crypto futures is, it could open the door to crypto ETF's (exchange traded funds) sooner rather than later. It could legitimize crypto and serve as an indirect endorsement.

[strocifer]

The fact that the CME will issue a future contract on BTC is a highly positive signal. It demonstrates that bitcoin is a trustworthy financial underlying, with enough liquidity and stability to be eligible for a Future contract.

It doesn't mean that the price will go up though: the value of bitcoin keeps depending on supply and demand; the price of the contract will follow its underlying. I would say that it might reduce the volatility of the currency since many investors will prefer to play on the future i/o the currency itself.

[Bitbitchy]

I think it will be more than 8k before December.

[grermezter]

I am very hopeful that it does rise and even exceed the said target being listed by OP, it's been a very not so good week when it comes to bitcoins with the whole confusion regarding the fork which was pulled and with investors are going to BCH. We are due for some good news in my opinion.

[Raegorl]

I think 8k is lowballing it. If CME is a success, the price will be much higher by the end of the year, maybe around the $10k mark (i think this will take a while to get over because of the psychological barrier it will be, with many people taking profits).

[scottykarate]

Crypto futures may be just another exchange where crypto is traded. There probably won't be anything groundbreaking or noteworthy about it. Gold and equities futures markets trade in the off hours of their trading days. Crypto trading is 24/7. There will be no true futures market in crypto as trading hours aren't limited. Futures will be just another exchange. It probably won't matter at all.

The main relevence of crypto futures is, it could open the door to crypto ETF's (exchange traded funds) sooner rather than later. It could legitimize crypto and serve as an indirect endorsement.

Yep, 1 step closer to ETFs.. eventually Forex. I know it's baby steps, but the CME thing is one of the most significant things that can happen to legitimize it. It comes at a much needed time as far as some good news and regaining the hype.

[BitcoinPanther]

Well that is a good news, with these removing fear from investors, this will definitely cater interest and or attract more investors to jump in Bitcoin projects.  This will also strenthen the positive side of Bitcoin.  With this news I believe bitcoin will reach higher than $8k.

[salihno71]

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

Well, it will surely influence the price in the upward direction. But it's the question where will be the next stop. It probably depends on the amount of new money. I think 8k is not unreachable.

[MJunioR]

I guess it will, but at the same time January will be super volatile, and it will probably have a correction not much later.

Why do you think January will be volatile? Just curious..not doubting. Post-holiday slump?

Exactly. If Bitcoin gets up to 8K in December, it will probably a temporarily thing that will end in January when it will begin to fall and get up at same time.

[f150]

Me and all the bitcoin users would definitely expect the price increase of bitcoin diangka 8k in december later, but that's just a prediction only. because no one can predict exactly when bitcoin prices go down and up, because the bitcoin price is unstable.

[rainbow169]

The CME could also open up a large short market which might introduce price pressure to bitcoin. Jamie Dimom might take this opportunity to short it ;-). But overall I think long time this is good news for bitcoin.

[romecheo]

After the big wave which striking Bitcoin badly, i am still no doubt that Bitcoin will not only hit 8k USD by December but surpassed it.

Bitcoin never missed to surprise digital currencies enthusiast and it will happen repeatedly.

[javadsalehi]

Whenever bitcoin price rises after a drop, it reaches to a new all time high. This is what is always happening. So the price can easily reach 8000 dollar in a short time.

[Mysterious01]

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

Bitcoin is already rising unexpectedly so there is a big chance that 8k USD will be hit in the month of December but I am not sure whether CME will become a big initiator for its value to rise.

[centralbanksequalsbombs]

Cannot speculate on price on this event.

Remember the central-bank-fiat-institutions can manipulate asset prices with derivatives.

Will futures introduce similar manipulation (as gold, stock, RE) after a period of years if more and more funds use futures/derivatives instead of underlying actual bitcoins?

That is why, ALWAYS rely on accumulating real, actual Bitcoins, they are true and scarce.

[Cloud27]

If the scheduled launch will push through there is a high probability to hit the $8k by the end of this year. The demand for bitcoin will be a competition for both current bitcoin investors and investors coming from CME. It is more likely some traders from the CME community will try to explore and to take a bite to invest in bitcoin.

[John Langut]

The price of Bitcoin may rise in anticipation of the futures, but when they are live Bitcoin holders may not like the result: it will enable new kinds of trading shenanigans of a level we haven't seen before.

[RAmondragon]

We might go around 8k to 9k USD by the end of December. Or it may increase more depending on how the current investors of bitcoin reacts on CME getting into the picture. The healthier competition the better for bitcoin.

[bitcoin31]

As of now the price of bitcoin is already 6900 dollars price and for sure it will continue to increase in the future.
More bitcoin that you have more money to come buy bitcoin because they have possibke the price become 8k dollars maybe this month and you will not wait the month of december because the possible price is 9k dollars plus for sure.

[btc-facebook]

At the moment I can see it will happen since bitcoin slowly but sure back to $ 7000 after yesterday downtrend

Cannot speculate on price on this event.

Remember the central-bank-fiat-institutions can manipulate asset prices with derivatives.

Will futures introduce similar manipulation (as gold, stock, RE) after a period of years if more and more funds use futures/derivatives instead of underlying actual bitcoins?

That is why, ALWAYS rely on accumulating real, actual Bitcoins, they are true and scarce.

It's difficult to say because bitcoin value generally depend on supply and demand so it become advantage for whale trader as they can control bitcoin value globally