The most famous cryptocurrency in the world, Bitcoin, is finally available on the futures market. This weekend its futures launched on the CME exchange, though the initial performance did not meet investors’ expectations.
Even though the futures’ starting price on Sunday was $20,650, the price quickly dropped to a little under $19,000. $19,500 is the expected value for Bitcoin futures contracts that expire in January. The prices of other contracts for later on in 2018 are increasingly higher, as analysts expect Bitcoin to continue increasing.
Overall, the markets currently believe that the Bitcoin price drop is due to caution at the initial launch. It is expected that Bitcoin will resume its growth in no time and be back on track soon.
The more cryptocurrencies become widely available for trading and other financial transactions, the more their status will stabilize and the doubt associated with them will gradually dissipate.
