Will Bitcoin hit $8k in December due to CME

[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

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[timerland]

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.

The price will definitely get bumped up by this, and will generate a lot more publicity for bitcoin. As the saying goes any publicity is good publicity. However, i just don't know how this will influence the pricing in the long term.

I'm not a fan of futures trading or high leveraging.

Basically a recipe for market manipulation, especially on such a large scale market.

[rhamzter]

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.

The price will definitely get bumped up by this, and will generate a lot more publicity for bitcoin. As the saying goes any publicity is good publicity. However, i just don't know how this will influence the pricing in the long term.

I'm not a fan of futures trading or high leveraging.

Basically a recipe for market manipulation, especially on such a large scale market.

Last day bitcoin value are fall down in the market, however this time it was starting to recovered. Maybe we just trust to the potential of bitcoin, because no doubt that this coin are starting to rising up again this coming December, 2017.
We don't need to panic selling due to fall down of bitcoin value, because all we need to do is to wait and hold it for long run of time.

[jjacob]

The price has recovered extremely strongly to back over $7k. The failure of Segwit2x and the resulting fall now seem like a bad dream. I wouldn't be surprised if we crossed $8k in November itself.

[Eugenar]

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.

I am also hoping that it will. Bitcoin was already having a market value of 7400$ lately but it just happened that its value fell because of what happened with the segwit2x supposedly this month. I think it won't be able to reach 10000$ before this year end which was expected before when the hardfork is not yet cancelled. But i think it will break the 8000-dollar mark since it is now starting to recover from the downfall recently.

[ckorbba]

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.

I am also hoping that it will. Bitcoin was already having a market value of 7400$ lately but it just happened that its value fell because of what happened with the segwit2x supposedly this month. I think it won't be able to reach 10000$ before this year end which was expected before when the hardfork is not yet cancelled. But i think it will break the 8000-dollar mark since it is now starting to recover from the downfall recently.

in fact, I would not be so categorical in my forecasts for the future of the near future prices for Bitcoin. I think that for the last year Bitcoin showed not only risking a fall, but also practical jumps to the moon of its price. Therefore, not only 8,000 dollars, but also 10,000 dollars is quite real. but with regard to the fact that today it will arrive at Bitcoin pricing, it is rather difficult to forecast, because we already see the Bitcoin Cash fork, which begins to strive in the price to the Top and may become a competitor simply Bitcoin.

[DonQuijote]

They can short btc too, dump is possible...

[eagleman]

They can short btc too, dump is possible...

Possible to see a dump when they started to get in with bitcoin. But the first trial will be a positive one to bitcoin, many will also chase up the profits that they can make. And traders now are too wise when it comes to these news, it's either they'll invest and sell later for the profits and will be monitoring the movements after they adopted.
There's a chance that it can hit $8,000 but still be vigilant and don't be too confident.

[KualaBit]

They can short btc too, dump is possible...

I agree bitcoin can go either way.  But it is december so I guess I'll go for the yes Bitcoin will hit $8k at the end of December.  This CME will give Bitcoin a good image if implemented perfectly.

[ask]

I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

[Yaunfitda]

I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

You are correct, such a recovery of bitcoin. Today the price continue to climb to $7500 and what? it just $500 before we can get it $8000. So its really possible to get it before December and at the end of the year the much awaited $10000 is the target. So guys just give holding our bitcoin and do not sell it off.

[lobo13hf]

The price has recovered extremely strongly to back over $7k. The failure of Segwit2x and the resulting fall now seem like a bad dream. I wouldn't be surprised if we crossed $8k in November itself.

Nope, it seems some people are spreading about the rumour of comeback bitcoin segwit 2x in the future. There is no reliable source for that but it looks the community will try to think for a twice to accept the bitcoin segwit 2x apdate to decrease the fees of the bitcoin transaction. we know the bitcoin transaction fees goes to the sun right now.

[batang_bitcoin]

I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

We are now getting close to $8,000 and as long as we are good with $7,000 as floor price I'm confidently going to keep on holding my bitcoin. And if bitcoin will be getting through and breaking barrier of $8,000, let's expect that $10,000 is so close. But don't forget that there will be some correction that might happen along the way of bitcoin at the top of the peak.

[Wayan_Pedjeng]

Looks like we'll reach the 8K mark this month itself. I read somewhere that there is no major resistance for Bitcoin until $10,000. So hopefully by the end of this year, we may be able to breach $10K.

[sana54210]

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.

$8k is already a small amount as that is imminent already. I foresee bitcoin's value going far more than that.
Roger and Jihan cannot harass bitcoin and the stunts they have pulled normally would only have lasted for a short period of time with or without CME. However, the CME news will cause a huge boom for the value of bitcoin, but we still have to be on the watch out as well.

[poodle63]

The price has recovered extremely strongly to back over $7k. The failure of Segwit2x and the resulting fall now seem like a bad dream. I wouldn't be surprised if we crossed $8k in November itself.

We have crossed 8k just in short time. but the next will be above 8k. As the cancellation of the segwit2x and with a lot of the attacks from the bitcoin cash shit fans that was really hurting the price of bitcoin. but they are know the fact bitcoin is only the one.

[STT]

The price will definitely get bumped up by this, and will generate a lot more publicity for bitcoin. As the saying goes any publicity is good publicity. However, i just don't know how this will influence the pricing in the long term.

I'm not a fan of futures trading or high leveraging.

Basically a recipe for market manipulation, especially on such a large scale market.

I dont think its certain because price rises in anticipation of events like this.   Buy the rumour, sell the news is the famous saying which probably fits this also.    CME adds leverage to BTC involvement possibly and maybe a wider audience Im not sure, I think its just speculators not as much investors who take a contract this way ?

The other thing is that it might add sellers who want to short Bitcoin.   This is easier to do in dollar denominated assets then bitcoin which is inherently resistant to leverage, Im not sure but its not a one way street.   With volatility I think CME requires greater amounts of deposit to match positions in any contracted trade, so we might see more selling from this or greater trends then previously.

The reason I commented really was to say to OP, $10,000 not 8,000 is more like a correct target if much real effect is felt by the market.  People might have an idea of IPO and a vast influx but my guess its quieter.
   The other scenario its just a paper setup and not much actual difference in trade volume is observed ( this year)

[klaaas]

Good chance $8k is the new bottom by then OP.

it looks the community will try to think for a twice to accept the bitcoin segwit 2x apdate to decrease the fees of the bitcoin transaction. we know the bitcoin transaction fees goes to the sun right now.

This problem will always occurs when there are limits to a size and ppl need to pay to get served first.
If there are no limits in size and/or no fees it will be abused/over used.

[AVAMONEY]

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.

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch
It's interesting how Terry Duffy said "I should not be trying to predict the price of products. I'm here to manage the risks of products"
I think if what Terry Duffy will do succeed then the price will exceed 8k, maybe up to 10k before the end of the year.

[John Langut]

After reading about the "bumpers" is anyone else having doubts CME Bitcoin Futures is a good idea for cryptocurrencies? If they can pause the market for whatever reason, what other tools do they have to control the market?