CME launches Bitcoin Euro Denominated futures

CME is one of the largest derivatives exchanges, and they just launches Euro Denominated futures for Bitcoin and Ethereum.
This seems to be good news somehow because besides using USD you can now use Euro.

What are your thoughts about this? I saw online there are some people who are telling that it's no effect at all because they said, there are a lot of manipulations on Futures markets.

Well, referencing it to a currency that does not stop falling is not clear to me. For people in the Eurozone who have investments in dollars, as many investment funds do, these investments have helped them to compensate for the decline in purchasing power.

I do not quite understand the move, I guess they do it to diversify supply, or because they expect the euro to continue to fall further against major competing currencies, and thus the price of Bitcoin and Eth will be higher.

Quote from: GreatArkansas on August 30, 2022, 06:25:18 AM

What are your thoughts about this? I saw online there are some people who are telling that it's no effect at all because they said, there are a lot of manipulations on Futures markets.

I'm sure it must have some effect or they wouldn't bother offering it. It seems like a natural progression of the market though. A good sign that they're continuing to offer more services instead of closing up the ones they have. I doubt it will enable more manipulation, but would assume the more access investors have to things like this, the more stability it offers as a result.

Quote from: GreatArkansas on August 30, 2022, 06:25:18 AM

What are your thoughts about this? I saw online there are some people who are telling that it's no effect at all because they said, there are a lot of manipulations on Futures markets.

In 2017, the all time high of Bitcoin was triggered by CME and CBOE future trading news. Now these news don't have too big effects like in the past because future tradings for Bitcoin are very common nowadays, on many exchanges, many platforms.

Another method for Bitcoin futures is like another payment method to buy and sell something in super market or in crypto marketplaces, it does not have big effect like the first one.

There are already a lot of bitcoin futures products available in Europe, but if that exchange is used a lot over here too then it means there'll probably be a lot more people tyring to trade/experiment with it - I guess in points where less it happening it means it might become harder for groups to dump the price as has happened in the past, but it might also not do anything or do the opposite...

All it does is allow gamblers (sorry, speculators? Traders?) from EU to play around on CME. Like they had a lack of options, or stablecoin futures, ha.

CME still carries a bit of weight in the market, I suppose. News doesn't always have to be important, though, and news doesn't always have to impact the market, or have the ability to.

Anyway.

That is if you hire as a confidant then you can achieve success from here. But if you invest in these places, you will never Euro denominated futures Currently many are ahead so you are definitely meant to benefitEuro Denominated futures There is a high chance of getting better.

Quote from: GreatArkansas on August 30, 2022, 06:25:18 AM

What are your thoughts about this? I saw online there are some people who are telling that it's no effect at all because they said, there are a lot of manipulations on Futures markets.

Unless you're going to include leverage, I don't think it's going to have THAT huge of an effect. It's just that futures gives people have the opportunity to bet against bitcoin, which can definitely put some sell pressure due to how shorting works.

No matter how many bitcoin/currency pairs are introduced by CME, the net impact on actual crypto market is zero. CME is a perfect example on how money is made out of thin air. CME will not buy or sell physical bitcoins or ETH and also not allow settlement in cryptos. So it's more like a gambling! No money flow will happen in and out of the crypto market due to CME derivatives exchange.

So I would care less in what they are introducing and why!

This may be a piece of good news for some people in the Eurozone but I believe it will also impact the price of the Bitcoin market. I could remember when CME and CBOE first added future offerings for Bitcoin without leverage some years ago and this lead to a huge dump in the price of BTC because the major player that gamble against BTC want to achieve the predicted result.