End of last year, the two huge Futures Contracts Firms that were both based on the US launched their first Bitcoin Futures Contracts. These are the Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME) both launched their Futures Contracts last December 10, 2017 and December 17, 2017 respectively. Futures Contracts simply means buying or selling of something at today's price to be delivered in the future as per the agreement stipulated in the contract. The price will now be fixed regardless of the movement in the market - many speculations that were circulating in the web that the whales of wall street will somehow manipulate the price of bitcoin in the market for them to maximize their profit.
Last 17th of January 2018, CBOE Bitcoin Futures Contrast has just expired and closed at 10,900 dollars of bitcoin price - that was 36% dropped right after the CBOE's contract expired and followed by CME several days later. If we look closely at the trend of Bitcoin's price right after the futures contract was expired, there is a visible effect on the market but not that much as we have expected. Before the contracts end, many were creating FUD in the web which triggered fear among the cryptonians. Many speculations that bitcoin will drop as much as 8,000 dollars right after CME expires its futures contract but it doesn't happen. It's been more than a month that bitcoin has no sign to rise up. I really missed those days in which we are thrilled on bitcoins' impressive run at the highest mark of 20,000+ dollars. I'm hoping that bitcoin will get back to its track and ready to skyrocket again.
