Publicado: Mar, Diciembre 12, 2017
Negocios | By Lorenzo Cobo

Bitcoin exchange warns customers of system collapse if prices crash

Bitcoin exchange warns customers of system collapse if prices crash

"We remain apprehensive with the lack of transparency and regulation of the underlying reference products on which these futures contracts are based and whether exchanges have the proper oversight to ensure the reference products are not susceptible to manipulation, fraud, and operational risk."

-The CME Bitcoin Futures Contract will use the ticker BTC and will equal five bitcoins.

From at least one technical indicator, Bitcoin price is definitely getting overbought.

But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly - if not investment-worthy - commodity, currency, tulip, or whatever, isn't futures.

Trading of the controversial digital currency on a futures contract began at 18:00 (23:00 GMT) on the Chicago board options exchange (Cboe) at a price of $15 000.

"This is kind of the classic bubble psychology", Timothy Lee, a senior tech reporter with Ars Technica, tells NPR's Weekend Edition Saturday.

This article was first posted on Etoro.com/blog: Our Premium Trading Partner. The coin had lost about $16 in a downfall from 5 AM to reach $423 at 8 AM before surging back. As liquidity was expected to be low in the initial stages, the minimal maintenance margin was also increased from 30% to 40%.

Cboe's future contracts, which trade under the ticker XBT, allow investors to bet on the future price of bitcoin.

While JP Morgan CEO Jamie Dimon dissed the idea of unregulated Bitcoins, competitor Goldman Sachs seems to have jumped on to the opportunity. It even was included in a Saturday Night Live skit on Saturday. As for the bitcoin, it has gone above the 20 days moving average of $10,815.06.

Bitcoin futures expiring in January climbed to $17,540 as of 11:29 a.m.in London.

The current price for Bitcoin futures is $18,630 for Jan. 17 expiration date and $19,140 for Feb. 14 expiration date. A number of the proposals rely on the futures, which do trade in regulated markets.

The price action today came after an insane rally in the price of bitcoin overnight, Hong Kong time, with the price nearing $20,000 on Coinbase.

The less anticipated futures contract for Bitcoin started trading today.

"The bitcoin founder should be horrified seeing it rise so quickly, as any serious focus on it and its recent explosive move higher will soon end its freedom", said John Taylor Jr, president and founder of research firm Taylor Global Vision in New York.

Bitcoin has become part of the national conversation, dominating Wall Street, the financial press and its broadcast arms. "We will see if that continues".

Take away: The economy grew fast, and the BOJ appears to be inclined to keep current ultra-easy monetary policies and massive financial stimulus, despite missing their inflation rate goals.

Here are some of the differences between the products offered by the exchange operators.

Bitcoin is, seemingly, the cryptocurrency that can do no wrong.

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