[2014-08-07] Bitcoin Price Strong Move Possible

[ganabb]

http://www.marketoracle.co.uk/Article46770.html

The Bitcoin market is changing every day. We’ve read an article on CoinDesk about yet another exchange expanding its services to offer Bitcoin derivatives. OKCoin, a Chinese exchange, made an announcement today on the subject:

Chinese exchange OKCoin announced today it will add futures trading to its platform, saying it is one of the first major exchanges in the world to offer users the chance to trade futures denominated in bitcoin.

[mercistheman]

This should get some play... very interested in the potential implications. 

[bryant.coleman]

I don't think that adding the derivatives is a good step. It will attract all sorts of bad people in to the Bitcoin sector. There will be a lot of rigging and similar stuff. I don't want that to happen.

[Kprawn]

"Trading position (short-term, our opinion): long, stop-loss at $550, take-profit at $880."

This might be why we seeing a slump in the price from $800, because of all the traders, selling at around $800 and floading the market, reducing the price.  

[howardb]

"Trading position (short-term, our opinion): long, stop-loss at $550, take-profit at $880."

This might be why we seeing a slump in the price from $800, because of all the traders, selling at around $800 and floading the market, reducing the price.  

Well they are not the first to offer derivatives in bitcoin, which is why we already  see so many attempts at manipulation.