Bitcoin futures are now tradable on the CBOE

Bitcoin futures trading on CBOE, the world’s largest futures exchange, just launched at 5pm CT.

Within a minute of the launch bitcoin spiked about 10% from ~$14,700 all the way up to $16,200 before settling a few minutes later to around $15,500, up about 5%. Now an hour after launching the actual price of bitcoin is still up, trading around $15,350.

Currently the settlement price of the January 1st, 2018 futures contract is pegging the digital currency’s future price at $15,700 with relatively little volume being traded. Each contract is pegged at one bitcoin, meaning volume exchanged has totaled about $7.7M with actual dollars traded being less since the contract only requires a 30% margin requirement.

The circuit breaker was hit at least once after trading started, which stops trading for 2 minutes after a 10% move and 5 minutes after a 20% move up or down.

516 contracts have traded for the January settlement date, with only a couple of contracts for the March 2017 settlement date have traded so far.

CBOE’s website went down as futures trading launched, but this was mainly because of a spike in interest and not necessarily trading volume. Trades need to be made through brokerage platforms, so CBOE’s site really only provides quotes and information and not the functionality to actually trade options.

In a statement provided to TechCrunch, CBOE said “due to heavy traffic on our website, visitors to may find that it is performing slower than usual and may at times be temporarily unavailable.  All trading systems are operating normally.”. 

Regardless, volume has still been low in the 30 minutes since options launched.

While there’s a chance activity will spike tomorrow when the trading week starts, so far this volume is much less than most expected.

As a refresher, CBOE is launching three futures contracts, with the settlement price being bitcoin’s trading price on January 1st, February 1st and March 1st, respectably. The CME group will launch their futures product later in December, and as of now these two products will be the only way for investors to trade the digital currency without actually holding it themselves.

Many think that the futures product will help stabilize the price of bitcoin, as well as hasten its adoption by Wall Street. Others think it’s a sign regulators are easing their view on the digital currency, which could lead to approval for future products like a bitcoin ETF.

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China could ban Bitcoin exchanges, but the market is unfazed

Image: Shutterstock/Wit Olszewski

Late recently, a report from Caixin shook the Bitcoin world. Inning accordance with the state-owned media outlet, China prepares to prohibit all cryptocurrency exchanges . The report was followed by a comparable one from The Wall Street Journal, which mentioned confidential sources knowledgeable about the matter.

And, at first, the cost of Bitcoin plunged, falling from approximately $4,600 to $4,000. 3 days later on, the rate of Bitcoin (and most other significant cryptocurrencies consisting of Ethereum) is increasing once again.

So exactly what’s occurring? Was the report incorrect? The response is uncertain at this moment, however the marketplace either not thinks the report, or it merely does not care.

Make no error– China certainly can pull such a relocation. The nation secured down hard on Bitcoin a number of times in the cryptocurrency’s history. And individuals’s Bank of China just recently prohibited cryptocurrency ICOs ( Initial Coin Offerings , or token sales) in the nation.

The thinking behind China’s actions to Bitcoin is intricate, however is primarily owned by the reality that cryptocurrencies are difficult to manage and can be utilized to move cash out of the nation, which does not agree with China’s authorities.

Banning all crypto trading on exchanges is a much more severe relocation than the ICO restriction. Numerous of the world’s biggest cryptocurrency exchanges live in China, and the nation is neck and neck with the United States in regards to Bitcoin trading market share.

In other words, Bitcoin must be dropping. Rather, it’s increasing progressively and sits at $4,320 at the time of composing, indicating that the marketplace isn’t really extremely worried about the restriction.

There are numerous signs that Caixin‘s report on China prohibiting all crypto exchanges may be incorrect or just partly real.

First, although a number of days have actually passed given that the initial report, there has actually been no main notification on the matter from individuals’s Bank of China. Second, 3 of the biggest exchanges in China– OKCoin , BTC China and Huobi– stated on Monday that they have not heard anything about a restriction from the nation’s regulators, a minimum of not formally.

And Bloomberg composed on Monday that over the counter deals (off-exchange trading) would not be prohibited, indicating trading crypto would still be possible for whales (casual name for entities that own huge quantities of crypto).

While it’s still extremely possible that China will, certainly, restriction crypto trading, it might just be a momentary blow for Bitcoin. Numerous specialists weighed in following the reports, stating the cash will eventually move in other places in case of a restriction.

When it pertains to Bitcoin, China’s authorities are understood to alter their minds frequently, and a great deal of the time they’ve been unclear on exactly what they prepare to do. It’s rather possible that the reports about the restriction of crypto trading will remain sticking around in the air for a while, without main verification or rejection. Now, it appears that even such unpredictability can not stop Bitcoin in its tracks.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

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Bitcoin News Trading Strategy for Profits

If you have traded stocks/equities, you would know that just as any company’s stocks get affected when financial news about the company’s financial performance comes out, the same is true with Bitcoin. It has been seen that any news about the digital currency directly affects the exchange rate, which is why you should bother about Bitcoin news.

Traders or investors practicing Bitcoin news trading take advantage of the immediate and sometimes wild fluctuations in the digital currency and book profits. Thus, you know that the markets before, during, and after the release of a very important economic data or any event about the digital currencies tend to have impact on Bitcoin, so keep track of Bitcoin news.

Bitcoin News from Around the World

When you have access to the latest and updated Bitcoin news from around the world, you can act fast which matters the most for any traders. Like any other form of Bitcoin strategy, it can be predicated on preparation and in Bitcoin news trading, the investor must get himself ready with the news that is going to come out.

Needless to say there are schedules on when the events regarding the digital currencies come out and then there are various Bitcoin-related websites that publish these announcements together with the previous and forecasted figures. These tend to have a great impact on the exchange value of Bitcoin that traders must take cognizance of.

Trust the Reputed Bitcoin News Portals

Like you collect data and information as well as analysis for trading currency pairs, stocks, etc. you should follow the same thing while trading Bitcoin. Here you get to know about the decisions taken by the governments and the central banks with respect to the status of Bitcoin. The decisions and events from the government and the companies have an impact on Bitcoin’s value.

So before the Bitcoin news comes out, an investor practicing Bitcoin news trading should prepare himself and give parameters on how he would act when the figures come out. Needless to say the trader should decode beforehand on what level of figure he would buy the digital currency or sell it.

Thus, the decisions while trading Bitcoin should be based on the latest events that are going to shape the exchange value; this is well understood by professional traders. Portals like NewsBTC can be handy when you are looking for the latest and updated Bitcoin news from around the world.

Read the latest news and events on Bitcoin for profitable trading.

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Using Bitcoin Charts for Competitive Trading

You can start learning the basics right here in the article as it talks about the trading techniques using the latest Bitcoin charts. To get started with trading on Bitcoin market you will need to understand the most basic type of tool there is in Bitcoin trading, a chart. A Bitcoin chart is a graph of a currency pair’s performance against the digital currency.

Needless to say over a certain period of time the exchange rate of Bitcoin goes up or down and it is the Bitcoin charts that show it beautifully. The ability to read Bitcoin charts effectively is essential to any trader’s success. As the latest and updated charts for Bitcoin exchange rates are compiled and presented by several organizations, you must trust a renowned services provider.

Bitcoin Charts from Trusted Sources

For every Bitcoin chart you see, each one will be showing the trends for different currency pairs against Bitcoin. These currency pair symbols represent the different currencies compared against each other, and it is these comparisons that essentially make the Bitcoin market world go round. Interestingly, you must know how to read the Bitcoin charts.

If you don’t understand how to read the Bitcoin chart you may be out of luck. Not to worry though, here’s a short and sweet guide on how to fix that little problem of yours. Needless to say this is as basic as it gets. Along the right side of a graph are incremental amounts which help indicate what price whichever currency pair against Bitcoin you are looking at any given time.

Bitcoin Trading for Profits with the help of Bitcoin Charts

In the actual chart you can see where the specific pair held at what value at any given time. And lastly, the bottom of the chart contains the timeline, which can be anything between 15 minutes, an hour, a day, you name it. Nonetheless, for visual learners in the world Bitcoin charts are the most suitable trading tools available.

Thus, Bitcoin charts are very useful for trading and profitable trading decisions. Once you have the basics of reading a Bitcoin chart down, you can start to get a feel of whether a currency pair is getting strong or weaker. Over time, you will begin to learn how to utilize the timeframe feature more effectively and do profitable trading which is what you desire the most.

Read more information on the real time Bitcoin price charts.

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