Skip to content

Bitcoin Price, Encryption Markets Retreat After the Launch of the Cboe Futures Contract

Get trading recommendations and read analytics on Hacked.com for just $ 39 a month

The price of bitcoin soared nearly 20% in the hours following the launch of contracts to term bitcoins on Cboe. The positive movement has wavered in all markets, allowing the combined value of all cryptocurrencies to increase by 13%.

Source: CoinMarketCap

Already on a slope, the market capitalization of cryptocurrency had entered the day to 390.7 billion dollars. It continued to rise throughout the day and finally stabilized at $ 442.8 billion, placing the cryptocurrency ecosystem at a value greater than the total valuation of multinational holding company Berkshire Hathaway, currently worth $ 484 billion.

<img class="size-full wp-image-126146" src="https://businessdigit.com/wp-content/uploads/2017/12/bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.jpg" alt=" bitcoin price "width =" 1073 "height =" 440 "/>

Source: CoinMarketCap

The Bitcoin price approaches $ 17,000 as futures contracts are negotiated

Regulated bitcoin futures have made their highly anticipated debut Sunday and – perhaps to the surprise of many analysts – have traded. January futures were up over $ 2,000 to $ 17,500, while March futures were $ 19,330.

<img class="size-full wp-image-126151" src="https://businessdigit.com/wp-content/uploads/2017/12/1513000532_409_bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.jpg" alt=" bitcoin price "width =" 1050 "height =" 139 "/>

Source: Cboe

Perhaps driven by this bullish outlook, the price of bitcoin has risen by about 19% for the day, rising from $ 14,159 Sunday to $ 16,738 on Monday. At present, bitcoin has a market capitalization of $ 280.1 billion.

<img class="size-full wp-image-126145" src="https://businessdigit.com/wp-content/uploads/2017/12/1513000532_293_bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.jpg" alt=" bitcoin price "width =" 1070 "height =" 485 "/>

Bitcoin Price | Source: CoinMarketCap

Although it is not known what bitcoin trajectory will take over next month as CME launches contracts on its platform and more traders enter the market, most analysts believe that regulated bitcoin derivatives will have a positive effect on cryptocurrency. term.

The price Ethereum recovers $ 460

Ethereum could not reproduce the exuberant movement of bitcoin, but he managed to recover $ 460. For the day, the price of the Ethereum climbed 4%, bringing it to $ 464. Ethereum now has a market capitalization of $ 44.7 billion.

<img class="size-full wp-image-126144" src="https://businessdigit.com/wp-content/uploads/2017/12/1513000532_700_bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.jpg" alt=" ethereum price "width =" 1072 "height =" 497 "/>

Price Ethereum Chart Source: CoinMarketCap

If bitcoin futures prove to be an attractive investment vehicle, it is likely that stock exchanges will launch ethereal derivatives in the near future, a scenario that would prove optimistic for the price of l & # 39; Ethereum.

See also  The slide: the Ethereum price drops to its lowest level for seven months against bitcoin

Altcoins rise up against the dollar

Backed by the spurt of bitcoin, nearly every 100 best altcoin rose against the value of the dollar, allowing the stock market cap to increase to around $ 163 billion.

<img class="size-full wp-image-126147" src="https://businessdigit.com/wp-content/uploads/2017/12/1513000532_744_bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.png" alt=" bitcoin price "width =" 1068 "height =" 539 "/>

Source: Spare Parts

The bitcoin spot price increased by seven percent to $ 1,394. The price of IOTA increased by two percent, which allowed it to remain above the level of market capitalization. Ripple, meanwhile, added five percent, although this increase was not enough to raise its market capitalization above $ 10 billion.

Beside bitcoin, the price of the litecoin posted the most impressive performance of a single day among the top 10 coins. The price of litecoin has exploded by nearly 18%, bringing it to $ 161. Last week, the price of litecoin climbed nearly 67% and its market capitalization quickly approached $ 9 billion.

<img class="size-full wp-image-126143" src="https://businessdigit.com/wp-content/uploads/2017/12/1513000532_117_bitcoin-price-encryption-markets-retreat-after-the-launch-of-the-cboe-futures-contract.jpg" alt=" litecoin price "width =" 1071 "height =" 503 "/>

Litecoin Price Chart Source: CoinMarketCap

The seventh indent rose five percent to $ 713, while the 16 percent recovery of bitcoin gold put an end to its prolonged slide. Monero added 10%, allowing its market capitalization to break the $ 4 billion mark, and NEM completed the top 10 with a 15% increase to $ 0.427.

Image from Shutterstock to photo