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Bitcoin beats CBOE up 20% after launch, at $ 18,210

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Within three hours after its listing of future bitcoin, the Chicago Board Options Exchange's (CBOE) online trading website and platform were inaccessible, due to an unexpected rise demand and volume.

According to Tokyo-based technology journalist Yuji Nakamura, CBOE bitcoin futures traded $ 401,600 worth of trades in the first 20 minutes.

Only the beginning, billions should flock to the Bitcoin market

In its early start to the year, the US Commodities, Futures and Stock Options Commission of the US Commodity and Futures Commission (CFTC) announced that she had settled $ 1 million during her first week. the exchange was planning to erase minimum volumes to test the system.

A similar situation had occurred with CBOE during the first few hours following the listing of bitcoin futures. A sudden surge in the volume and demand of institutional investors and retailers in the traditional finance sector has led the CBOE trading platform to become inaccessible for a brief period.

Over the next few weeks, institutional investors and investment companies investing hundreds of billions of dollars are expected to invest in the bitcoin market. Given that large-scale hedge funds are limited to investing a minimum value of a few hundred million dollars, it is likely that in the short term, billions of dollars will be invested in bitcoin.

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Over the last month, several analysts have expressed concerns about the possibility of shortening bitcoin on a larger scale through CBOE's bitcoin futures and futures exchanges. Some analysts argue that an excessive short circuit of bitcoin could plunge the course of cryptocurrency.

However, as reported by Zerohedge on December 11 investors paid premiums for investing in bitcoin. Currently, the price of bitcoin futures is up more than 20% since it opened. XBT / F8, the main CBOE-listed bitcoin futures contract, trades at over $ 18,210, with a premium of $ 1,960.

Trend from mid-long to long

Based on the performance of future CBOE bitcoin futures over the last 6 hours, it seems obvious that the demand for bitcoin in the traditional financial market is growing at an exponential rate.

Gwen Dwyer, Head of Business Development at BitMEX, and Nikolaos Panigirtzoglou, JPMorgan Global Markets Strategist, noted this week that the introduction of future bitcoins into the global financial market would strengthen bitcoin as as major asset class. stabilize its market.

"Overall, the prospective introduction of Bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class. The value of this new class of assets is a function of the extent of its acceptance as a store of wealth and as a means of payment and simply judging by other wealth stores such as l & # 39; however, crypto-currencies have the potential to grow from here, says Panigirtzoglou.

On December 18, another important exchange of options, CME Group, the second largest stock exchange in the global market behind CBOE, is expected for the list of future bitcoin. Several hedge funds, including the $ 95 billion Man group, have already announced that they plan to commit to investing in Bitcoin when CME launches its Bitcoin Futures Exchange. in the next few weeks.

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