Possible Spoiler to Affect Bitcoin Prices When July Futures Close – Bitcoints

bitcoin

Published on July 25th, 2018 | by bitcoin

0

Possible Spoiler to Affect Bitcoin Prices When July Futures Close

Possible Spoiler to Affect Bitcoin Prices When July Futures CloseThat’s because Friday, July 27 is the date that bitcoin futures contracts offered by derivatives giant CME Group are scheduled to expire.
Investor interest in the bitcoin futures market is seeing substantial growth – perhaps best depicted by a tweet from the CME Group which stated that their bitcoin futures product was up 93 percent in volume and 58 percent in open interest in Q2.
While the numbers are encouraging for widespread adoption of bitcoin investment, many have argued bitcoin futures negatively impact price.
Most notably, in the days prior to the close of the January and March contracts, price fell 13.05 and 20.45 percent respectively (closing price on expiry day subtracted from opening price of fifth day prior).
Perhaps not coincidentally, Bitcoin reached its all-time high of $19,891 (on Bitfinex) on Dec. 17, 2017, the exact day CME introduced their first bitcoin futures product.

Source: Www.coindesk.com

Tags: , , , , , , , , ,



Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to Top ↑