After the BTC future market opens on Chicago Exchange,Bitcoin price up or down?

[MaggieDeng]

It's coming soon in the next a few weeks. And also the Nasdaq exchange may begin to offer Bitcoin futures as early as June 2018.
There are 7 hard forks of BTC this month as well, following Eth forks early next month as well.
Do you think more wall street power will be involved in the BTC market and maybe some of them will short on BTC price to make a profit?

[duola9527]

The world's bitcoin holders are expecting the Chicago mercantile exchange group to participate in the ecosystem. The Chicago mercantile exchange group was set up before twentieth Century and is now the largest futures exchange in the world.

[Koreaforever]

I think that by the beginning of 2018, the cost of bitcoin will exceed $ 20K.
Listing on the stock exchange will accelerate the growth of value!

[OmegaStarScream]

The wall street money will definitely start flowing into bitcoin but not sure If this is a good or bad thing, some people are greedy and It's possible that they will manipulate the market (pump and dump) so they earn more money and as for the forks, I wouldn't worry much, people already understood that those are not a threat for bitcoin so If something happens, it will be a pump for bitcoin as everyone will be dumping the hardfork coins.

[soham]

I don't think the price will go down after the entry of Chicago mercantile exchange group in to bitcoin ecosystem. It is sure that they will implement many new investment strategies on bitcoin but for the bitcoin community, it's one step closer to the moon. With the kind of money these investment groups can afford, will surely increase the market cap by a few billion dollars and they also wouldn't want the price to go down after their entry. Bitcoin market is impacted heavily by the positive vibes and hence the price is going up steadily. I see more upward trends coming after their official entry.

[Alex_nutis]

The presence of futures contracts on bitcoin on traditional exchanges will in fact make bitcoin's position "legitimate" in the existing financial and legal system. Bitcoin, and later, perhaps, other crypto-currencies, will become one of the asset classes traded on global exchanges, taking the place among precious metals, energy resources, agricultural products, government bonds and many other commodities and securities for which futures contracts are concluded.
The fact that there are financial guarantees for transactions with bitcoin derivatives is undoubtedly capable of increasing the investment attractiveness, and hence the demand for the underlying asset and its price. This means that the global demand for bitcoins and market liquidity will significantly increase. Given the limited resource and predictable emission of "digital gold", these factors should significantly increase the price and at the same time reduce its volatility. And this will make bitcoin even more attractive for long-term investments.
But despite the opportunities for growth, this step opens wide scope for market manipulation and can not only raise, but also drop the price of bitcoin.
For example, if large traders on the same CME open contracts for billions of dollars to lower bitcoin, then there will be panic at the crypto-exchange markets and traders will start massively discarding the bitcoins, and where open-ended trading - open "short" deals or "shorts". This will cause a completely uncontrollable collapse of the price - in fact, bitcoin does not have a "bottom" and its participation in the real economy is extremely insignificant.

[1NV3ST0NM3]

It's coming soon in the next a few weeks. And also the Nasdaq exchange may begin to offer Bitcoin futures as early as June 2018.
There are 7 hard forks of BTC this month as well, following Eth forks early next month as well.
Do you think more wall street power will be involved in the BTC market and maybe some of them will short on BTC price to make a profit?

Bitcoin has smashed upto 11500$ today and watching the list of upcoming adventures I think this Christmas is surely going to be a roller coaster for bitcoin but yes considering the fact that it has already boomed to such an extent since the last two to three months makes me in doubt whether such a thing would really happen or not. There is a huge list of upcoming forks but none of them looks worthy enough. Nor do I know of any big exchange which is supporting any of the forks its going to be interesting to see the reaction of market.

[SixOfFive]

I think BTC will more pumped this month as many investors start buying BTC to earn some free money from the hard forks. It would be interesting to see that will market and exchanges accept these hardforks. Till now no exchange is supporting these new hardforks.
surely wall street power will definitely make it more volatile. But i don't think it can resist btc to grow in long term.

[geo43]

This will allow investors to more easily short Bitcoin. It's pretty hard to do that right now because only a few exchanges allow that. That might push the price down but on the other hand the mere fact that the largest futures exchange is allowing any Bitcoin trading at all is positive news and will lead to mainstream investors adoption.

[uncleduckerr]

Hard to assume that Bitcoin price will retreat at this point and if it does I think it will only be temporary. There is no real problem like there was in July with scaling and wonder if bitcoin will get passed another stress test. The people have spoken with their wallets the confidence is in, now we will really see what the big wallets think of bitcoin. I know I got my popcorn ready you all should be excited about this too!