The year 2017 was a very successful one for Bitcoin and its price in general. However, it is no wonder when the price goes down we can even say that is expected.
With every price movement that happens, an avalanche of reactions across the cryptocurrency market is noticeable. We saw that the price of Bitcoin dropped by around 3 percent just on Monday. It is not entirely clear why that is happening but of course, the cryptocurrency market has never really been a rational place so that is unlikely to change in the near future.
On Sunday evening, the Chicago-based exchange-listed bitcoin futures for trading. They have already been trading for more than a week, but because CME is an enormous exchange place, many analysts expect a higher trading volume especially from institutional investors.
However, futures can actually lead to reducing the Bitcoin price. Investors that use futures trading can bet against bitcoin and can also make contracts in dollars increasing their liquidity. Also, Bitcoin futures allow investors to make trading without owning the cryptocurrency. That can also reduce the demand for Bitcoin and bring the prices down.
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