blockchain bitcoin money

Investors who are trying to come in and bet against the large amount of gains procured by the cryptocurrency, bitcoin, may have reason to do so now. The head of the largest futures exchange in the world recently stated his opinion on the subject.

Terry Duffy, the CEO of CME, recently stated that “When can you be able to short this product, I think sometime in the second week in December you’ll see our contract out for listing.” CME recently stated on October 31st that they would be offering futures in the bitcoin market as soon as by the end of the year. The futures given by the company will be cash settled, and will be tracked by the CME CF Bitcoin Reference rate, which follows several of the top bitcoin exchanges.

Traders of futures on the currency will soon be able to bet on how high or low the price will be at a given time in the future. The way futures work is by tracking the price on whether or not in declines or gains in a given time in the future. If the bet by the trader is correct, they get paid, if not they lose money. If the trader chooses to bet on the coin gaining and it does so, they make money, and vice versa.

The Best Way To Invest In Bitcoin?

Over the course of the weekend, the currency dropped by around $1,000 while coming back to around $6,770 on Monday, November 13th. This shows the incredible volatility that has yet to change in the market. Duffy recently stated that “I’m not trying to rein in the volatility of bitcoin, but what I want to do is give it a place for other people to lay out that risk.

Today you cannot short bitcoin. So there’s only one way it can go. you either buy it or sell it to somebody else. So you create a two-sided market, I think it’s always much more efficient.” Hopefully, Duffy is correct, and the ability to short the coin leads to an increased price overall.

LEAVE A REPLY

Please enter your comment!
Please enter your name here