[2018-06-12] FORBES: This Could Be The Next Big Thing For The Bitcoin Price

[BokkaExchange]

This Could Be The Next Big Thing For The Bitcoin Price

The Bitcoin price has been struggling so far this year, this past weekend dropping more than 10% and taking its year-to-date losses to 50% of its January peak.

There's been a lot of negative news for Bitcoin and cryptocurrencies lately, from cyber hacks, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.

But there have been some bright spots too — transaction fees are down, the number of stores accepting Bitcoin both online and in the real world are up, and regulators appear to be favouring a soft touch.

One of the best things for the Bitcoin price this year has been the interest from some of the world's biggest trading platforms and exchanges — with at least two expected to announce they will soon allow large investors to buy and hold Bitcoin.

Read more: https://www.forbes.com/sites/billybambrough/2018/06/12/this-could-be-the-next-big-thing-for-the-bitcoin-price/#58e102a733f3

[Olusun]

This Could Be The Next Big Thing For The Bitcoin Price

The Bitcoin price has been struggling so far this year, this past weekend dropping more than 10% and taking its year-to-date losses to 50% of its January peak.

There's been a lot of negative news for Bitcoin and cryptocurrencies lately, from cyber hacks, dwindling transactions, sky-high power consumption, and criticism from the world's established financial industry.

But there have been some bright spots too — transaction fees are down, the number of stores accepting Bitcoin both online and in the real world are up, and regulators appear to be favouring a soft touch.

One of the best things for the Bitcoin price this year has been the interest from some of the world's biggest trading platforms and exchanges — with at least two expected to announce they will soon allow large investors to buy and hold Bitcoin.

Read more: https://www.forbes.com/sites/billybambrough/2018/06/12/this-could-be-the-next-big-thing-for-the-bitcoin-price/#58e102a733f3

[milewilda]

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, was revealed last month to have been developing an online platform to buy cryptocurrency, according to a report by The New York Times.

Meanwhile, Nasdaq, which entered into a partnership with crypto-exchange Gemini in April, is also planning on launching a futures market for cryptocurrencies. 

Getting out some words from the article link given https://www.forbes.com/sites/billybambrough/2018/06/12/this-could-be-the-next-big-thing-for-the-bitcoin-price/#58e102a733f3
I just want to elaborate which trading platform would able to add up crypto. This is indeed a Positive news towards bitcoin but we cant still be assured on how much add up it will able to contribute but the good side is that they do already recognizing it. Even though we suffer price dump but having this kind of development and acceptance does signifies growth.

[felixesteban]

In fact, there have been many positive developments lately. New exchanges opened, many new investors entered the market. Lots of coins which has really solid technology  met with investors. As for bitcoin transaction fee, it decreased, once fee was about twenty dollars. But for some reason the price could not reach the expected levels. I hope these days are the last days we will see bitcoin at this price.

[XFlowZion]

I could see these billionaires  focusing on crypto once the platforms are available. Just imagining them pouring their money on bitcoin and altcoins are making me float on clouds so please make these happen already this year so we can all get out of this sticky mud that keep us drowning forever.

[squatter]

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, was revealed last month to have been developing an online platform to buy cryptocurrency, according to a report by The New York Times.

Meanwhile, Nasdaq, which entered into a partnership with crypto-exchange Gemini in April, is also planning on launching a futures market for cryptocurrencies.

I'm guessing Nasdaq is just listing cash-settled futures like the CME Group and Cboe. There's no way to do direct arbitrage and they shouldn't have much effect on the markets, as I understand it.

But the ICE listing might be interesting. The article almost makes it sound like they are launching a spot exchange, but they've said in the past that they plan to offer BTC-settled swaps with real delivery -- technically contracts regulated by the CFTC. So if mainstream and institutional investors want to buy and hold BTC without touching the risky, unregulated spot markets, this could be a new option.

[Lucius]

I'm guessing Nasdaq is just listing cash-settled futures like the CME Group and Cboe. There's no way to do direct arbitrage and they shouldn't have much effect on the markets, as I understand it.

But the ICE listing might be interesting. The article almost makes it sound like they are launching a spot exchange, but they've said in the past that they plan to offer BTC-settled swaps with real delivery -- technically contracts regulated by the CFTC. So if mainstream and institutional investors want to buy and hold BTC without touching the risky, unregulated spot markets, this could be a new option.

Nasdaq should not be big thing, as you say it will be only futures option, and we see in past that such option is not benefit to BTC price on long run. CME and Cboe are maybe caused last year price pump, people are just confused with the fact what this is really about. I hope ICE may have some positive impact on market, it is only question if investors want to invest in BTC, at least some big money.

[qianqi]

There are too many things happening in the encryption market recently. They are all negative events. The market's drop this time is really big!

[Kronos21]

I'm guessing Nasdaq is just listing cash-settled futures like the CME Group and Cboe. There's no way to do direct arbitrage and they shouldn't have much effect on the markets, as I understand it.

But the ICE listing might be interesting. The article almost makes it sound like they are launching a spot exchange, but they've said in the past that they plan to offer BTC-settled swaps with real delivery -- technically contracts regulated by the CFTC. So if mainstream and institutional investors want to buy and hold BTC without touching the risky, unregulated spot markets, this could be a new option.

Nasdaq should not be big thing, as you say it will be only futures option, and we see in past that such option is not benefit to BTC price on long run. CME and Cboe are maybe caused last year price pump, people are just confused with the fact what this is really about. I hope ICE may have some positive impact on market, it is only question if investors want to invest in BTC, at least some big money.

In this situation, large investors will not buy cryptocurrencies. Now only those who control the main exchanges will buy cryptocurrencies and can predict prices. The sales volume of cryptocurrency exchanges is very low. Large speculators with a worldwide reputation can easily gain control over the main sales volumes. It's probably happening now.

[Krishniche]

It is indeed a good news. Lets hope it happens soon. Cos this initiative from USA can be impactful to the market.

[darkangel11]

I could see these billionaires  focusing on crypto once the platforms are available. Just imagining them pouring their money on bitcoin and altcoins are making me float on clouds so please make these happen already this year so we can all get out of this sticky mud that keep us drowning forever.

It will happen once the negative wave loses its momentum. There are always bear markets because that's how human psyche works. We get over enthusiastic when the price continues upwards for an extended period of time and we feel down when it keeps falling. each move makes us gather the strength  and confidence to withstand another move. We were in a bull market since last Summer, and now we're another 6 months in the bear market. It's slowly coming to an end.

[vit05]

The important fact to be highlighted is that big money wants security. And interestingly, they do not believe that cryptocurrencies and open source and decentralized projects are safe enough.

They want institutions authorized by the government. And that's part of what coinbase and other exchanges are looking for. Wanting to buy regulated banks and offering safe cold storage options.

These two facts, yet to be achieved this year, will determine the future of Bitcoin.

[Harlot]

Bitcoin did become accepted more over the years but although it has more uses now we all are asking ourselves why the prices are falling when the demand and acceptance of it is rising. But a lot of us is missing one variable and that is us humans. We are the ones making the big swings from day to day and it doesn't necessarily mean that more traders means more demand as the more right assumption is that more traders entering the market more volatility will come to the market itself.

[cetald]

All these events benefit people with big money. They popularize negative events in the media in order to reduce the price. And now it's advantageous to buy bitcoin. And in the fall, or until the end of the year, to make a profit.

[entrepmind23]

All these events benefit people with big money. They popularize negative events in the media in order to reduce the price. And now it's advantageous to buy bitcoin. And in the fall, or until the end of the year, to make a profit.

They just want to shake out some traders so that they can buy at a lower price. Things have been improving for bitcoin even though its price is going down and we know that it is just manipulation of those who has the big money. I have been watching the research of some famous crypto enthusiasts and one of them believe that one of the catalyst that would push the bitcoin price higher is the bitcoin ETF that may double the ATH price if that would happen. They make sense though because they have done their research and there is a big weight to the problems of the financial system and economic uncertainties nowadays.

[Rahar02]

Bitcoin futures isn't a fresh meat for us, it may not change the market movement significantly but give an option for stakeholders to manipulate the price, considering resource they have to do that, investors can buy millions of dollars and dump all of theirs at once in the end of the contract's deadline.
On the other side, ICE plan is a good sign for bitcoin, as ICE will develop an online trading platform to buy and hold bitcoin for large investors, people will be ready for the next big thing. But we don't yet, whether it can affect the sustainability of bitcoin's price in long-term or just another pump and dump situation.

Here another source to add more information about it.
ICE, the owner of the New York Stock Exchange, has been developing an online platform to buy cryptocurrency
The trading platform would "allow large investors to buy and hold bitcoin," the report found.

ICE first entered the crypto market via a crypto data feed, which went live in March.
The exchange operator, according to the report, has also explored swaps, another financial instrument, which would be linked to bitcoin.

Still, if ICE were to follow through on its reported plan, it would be the first established equities exchange operator to launch such a venue in the US.

The venture would potentially have a big leg up over existing crypto-exchange venues which lack the mature market structure of equities exchanges like NYSE and Nasdaq.

http://www.businessinsider.com/ice-new-york-stock-exchange-owner-bitcoin-trade-platform-in-the-works-2018-5