Anyone Want Bitcoin Futures? Anyone?

Katz and Baker examine the cryptocurrency market as of October 2018. In the months leading up to the debut in the stock exchange, Bitcoin's price had gone ballistic. It surged about 600 percent from when Cboe revealed its plans in early August to when CME Group Inc. started trading its own vers...

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Bibliographic Details
Published in:Bloomberg businessweek (Online) 2018-10 (4590), p.32
Main Authors: Katz, Lily, Baker, Nick
Format: Magazinearticle
Language:English
Subjects:
Digital currencies
Futures
Industrywide conditions
Prices
Online Access:Get full text
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Summary:Katz and Baker examine the cryptocurrency market as of October 2018. In the months leading up to the debut in the stock exchange, Bitcoin's price had gone ballistic. It surged about 600 percent from when Cboe revealed its plans in early August to when CME Group Inc. started trading its own version in mid-December, which coincided with Bitcoin's high of roughly $20,000. It's since lost more than half its value. It's not surprising that Bitcoin peaked within hours of the kickoffof CME's contracts. Ten months later, some of the hopes for Bitcoin futures look more like pipe dreams. Cboe and CME combined traded about 9,000 contracts a day in the third quarter.
ISSN:0007-7135
2162-657X