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Bitcoin

Mainstream trading and investing has for a long time looked askance at the Bitcoin and cryptocurrency trade. Digital trading has been at loggerheads with the concept of traditional stocks and futures, with many feeling that Bitcoin, Ethereum and other alt coins are too volatile to invest in. But change is coming, and the fact that on November 2nd the Bitcoin price went through the $7000 mark on the GDAX exchange, up from $5,750 on 28th October, is an indication of investors sitting up and taking notice. But this high point is partly the result of traditional and mainstream finance realising they need to integrate cryptocurrency into their markets. Mainstream for cryptocurrency On November 1st, the World's largest Option Exchange, the CME Group, announced futures trading on bitcoin – just nine years after the advent of the cryptocurrency. The future of digital assets is going to change with this new development. The most likely result is that a Bitcoin ETF (Exchange Traded Fund) will soon be possible, especially when major institutions like CME and The Chicago Board Options Exchange announce that they will begin trade in Bitcoin options and futures. Generally, futures are seen as less regulated than other derivatives, making them an attractive prospect for investors looking for a cheaper platform. Infant market could grow Digital currency is still in its infancy, with plenty of room to grow and develop. But like any infant, no one is quite sure how it will progress. The market correction of $500 which brought prices back down before rising once more to $7,000 is the kind of instability that makes traditional investors wary because of the high risk. Will Wall Street and other financial traders adapt and continue to move toward accepting Bitcoin as a legitimate digital currency? If they do, the future of digital currency looks rosy indeed.

As the CME Group announces futures trading on Bitcoin, will its value keep going up?

Crypto Daily™

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