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CME Requests x2 Bitcoin Futures Capacity By CFTC As Interest Soars

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CME Requests x2

The Chicago Mercantile Exchange (CME) Group is petitioning the United States regulators to allow its clients to double their Bitcoin futures open positions. In short, CME requests doubled Bitcoin futures because of the increased interest and officially put its plans before the Commodity Futures Trading Commission (CFTC).

If all of this is successful, each investor would gain a monthly limit of 2,000 contracts per spot monthly instead of the current 1,000. Nasdaq officially presented the news on September 12, which went viral on many best cryptocurrency news sites.

The move also comes on the back of the constant growth in demand for Bitcoin futures. CME’s volumes have been setting new records on a regular basis. As Nasdaq noted, CME requests doubled Bitcoin futures capacity but CFTC states that lower-risk trading instruments are not a subject to limits.

Therefore, an agreement to lessen the strict controls for CME could be construed as the regulator has more faith in Bitcoin (BTC) options than ever before. As a spokesperson told the publication:

“This is one more way we’re providing customers, institutional traders and end-users with additional flexibility to trade and hedge bitcoin price risk,” he said in the latest cryptocurrency news.

Now that CME requests a doubled BTC futures capacity, it is also worth mentioning that the exchange was one of the first Bitcoin futures operators which launched its product in December 2017.

Ever since then, the market has expanded a lot and the second half of this year is set to see a significant increase in overall interest. Later in September, Bakkt which is a regulated ecosystem for institutional investors also announced the launch of their Bitcoin futures market – in the form of paying out returns in BTC instead of fiat currency.

Meanwhile, the leading cryptocurrency exchange Binance is apparently also testing two potential futures trading platforms. All of this is proof that CME requests increaed capacity because of huge interest for Bitcoin futures on the market.

In the daily Bitcoin and altcoin news, we can see greens and positive influx of money. The total crypto market cap has climbed to $263 billion and Bitcoin is leading the gains with a 1.53% surge on the day and a current price of $10,305.

 

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Four Common Bearish Patterns Every Bitcoin Trader Should Know

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four common bearish patterns
Candlestick patterns can be bearish and bullish - and they are one of the most popular methods for analyzing price action by cryptocurrency traders. The truth is, there are so many patterns worth learning and understanding. Below, we are listing four common bearish patterns to let you know how they can predict a trend and identify potential patterns.Bearish HaramiThis is the first one in our list and a two candle pattern which signals a likely reversal in price. In this pattern, the first candle is large and green while the second one is a red one with a smaller body. In order to be valid, the second candle must be completely within the range of the body of the first candle. A situation like the bearish Harami has occurred many times in the cryptonews.Dark Cloud CoverSecond on our list of four common bearish patterns is the Dark Cloud Cover - another two candle pattern which signals a likely bearish reversal at the top of a bullish movement. The first candle is large and always green, followed by a similar red candle. However, what's important is that the second candle opens with a gap and closes more than halfway into the body of the first day's candle.The Evening StarIf you have studied the four common bearish patterns, you probably know The Evening Star - a bearish reversal pattern which appears on top of an uptrend with a large bullish candle and is followed by a gap to a small bodied candle and one to a red candle closing below the midpoint of the first day.Shooting StarLast but not the least is the Shooting Star, a bearish reversal pattern which is common in the Bitcoin news updates. Formed by two candles, it appears during an uptrend and signals that an upcoming reversal to a bearish bias is close. The first candle is green and is followed by a green or red candle with a long upper wick and a small body. It is the long wick which is the indication that bulls control much of the session, before losing their ground to bears.We hope that these four common bearish patterns will let you identify future bear markets!
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Best Investable Asset For 2019 Is Officially Bitcoin: Report

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best investable asset
Bitcoin is officially the best investable asset for this year despite having its share of unnerving periods and managing to become of the best assets as we are reading more about the report in the upcoming BTC news.Acquiring more than $1 worth of Bitcoin in 2020 would mean more than $90,000 today even after the price corrections. To compare, after the extremely successful decade for the stocks, $1 invested in big indices of the US equities would have reached $3.46. Of course, not everyone can sell during peak time so the stock indexes are historically less volatile and more liquid. Bitcoin is considered a wild card for personal finance and helps to build wealth for smaller-scale investors facing both risky markets and low real income.Bitcoin investment is not limited to US-based persons and it caused a boom of investments in Korea and the stagnant stock returns caused buyers to adopt crypto assets which moved beyond BTC and into the zone of the riskier assets. It’s possible that some of the other asset classes reached a huge growth as well in nominal terms over the past ten years and they have now arrived with significant quantitative easing thus boosting their valuations.  The next decade could bring slower growth but most of the indicators point to a recession getting avoided in 2020. Bitcoin has not faced a recession so far and has existed on the market in an environment of investment exuberance.Since then, despite the correction, the bitcoin ecosystem increased and the presence of the asset was established. With the mainstream futures markets and exchange-traded products across Europe, Bitcoin is starting to look like a serious asset class that the mainstream markets will have to compete in which is why it is proclaimed as the best investable asset for this year. Despite the crashes, bitcoin has posted higher lows each year and gained a lot of liquidity and support from the futures markets that helped it go around the periods of relative stability.BTC also build businesses around the activity of mining and it used the spare hydroelectric power to essentially build a new type of value. This month has been considered the final stretch of the decade for the benchmark cryptocurrency at least since the beginning of the trading. Bitcoin now trades at about $7065 on the slower volumes before the holidays start.
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BTC App Bottle Pay Startup Shuts Down Due To New EU Laws

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BTC App Bottle Pay
BTC app bottle Pay startup has shut down on Friday because of the new AMLD5 European Union regulation that will come into effect on January 10, 2020, as per the latest bitcoin news.The BTC App Bottle Pay once allowed the users to sent small amounts of Bitcoin by only using social media texts and handles from Twitter to Telegram. There are more than 974 members in the project’s Telegram group. The startup managed to raise up to $2 million in September and back in December the entire team declined to name any of the investors but said that the startup already had 10,000 accounts. Bottle Pay released a public beta and a real bitcoin in late November but have just realized how the new European regulations will dramatically alter the roadmap of the company:
 “The amount and type of extra personal information we would be required to collect from our users would alter the current user experience so radically, and so negatively, that we are not willing to force this onto our community.’’
Bottle Pay will not be the only startup that was impacted by the regulations because they demand a stricter user verification process and the exchange BitPanda announced on Friday to be launching a new user registration process because of that. The chief economist at Canada’s Cypherpunk Holdings Inc, Jon Matonis, explained that these policies will apply to all custodial crypto wallets. The privacy-focused wallet Samourai Wallet which is not registered in any specific jurisdiction tweeted that the team believes the policy will apply to noncustodial wallets as well.Teana Baker-Taylor is a London-based expert and director of the crypto industry group Global Digital Finance, said that this policy could force the crypto wallet providers in the EU to collect the know-your-customer information from the users. The exchanges and wallets according to her, will become obliged entities:
"AMLD5 prohibits facilitated (non peer-to-peer) anonymous transactions. Custodian wallet providers and exchanges will be obligated to implement customer due diligence (including KYC) and transaction monitoring. They will also be required to maintain comprehensive records and report suspicious transactions."
Steven Maijoor from the European Securities and Market Authority said that it is important to have risk warnings and risk information for the consumers that go into these products including anti-money laundering procedures and arrangements.
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Top Movement For Bitcoin Is Imminent: Could BTC Visit $10k By 2020?

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four common bearish patterns
A top movement for Bitcoin is something that could benefit everyone - starting from the altcoin investors on the market up to the day traders and cryptonews followers from all over the globe. This is something that is quite obvious - but does Bitcoin have the potential to rise soon?Well, according to one prominent cryptocurrency investor and commentator, the importance of the $10,000 mark is very big - especially in a nascent market like this. In other words, the analyst is confident that a top movement to $10,000 and then $20,000 is how the momentum should be set up and how the macro price scales should go.This would also mean that Bitcoin has the fuel to shoot higher, potentialy until it reaches another important round number. We are talking about the analyst Su Zhu of Three Arrows Capital, who spoke in a recent podcast along with Luke Martin and said that round numbers in the cryptocurrency market are extremely important. Zhu claimed that the “round numbers have even more meaning in crypto [than forex] because this is what everyone thinks.”https://www.youtube.com/watch?v=SrTHy57bkw4All of this shows that Zhu believes that a top movement for the leading cryptocurrency is the most important moment in terms of price action analysis. However, it is not only him that shares the same outlook in the latest Bitcoin news.Earlier this year, the famous Fundstrat Global Advisors analyst Tom Lee also shared his outlook and implied that $10,000 is the level to watch for the time being. Fundstrat wrote a full analysis and said that once BTC tops $10,000, "Level 10" FOMO will grace the market. This is how the cryptocurrency market can shoot even higher once $10,000 is reclaimed on a macro scale.As Lee took to Twitter earlier this year, he wrote that “[$10,000] will see FOMO from those who gloated about the 90% crash in BTC… and those who saw Bitcoin dead as forever.”We can also see reports from Bloomberg agreeing that a top movement to $10,000 is important and that the barrier between four digits and five is crucial.
“Bitcoin faces solid resistance at the $10,000 level, with investors having difficulty valuing it given continuous debate on whether or not it’s an asset or a currency. For many investors, BTC will need to break that barrier for confirmation that meaningful gains could continue,” the reports showed.
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