So here we go again popcorn ready
Down and back up
Its happening right now?
Yep all action now
@Peter your not streaming live?
CME Looks bullish for January a high of 20650
Can anyone elaborate on the meaning of all the options in Tradeview?
At the beginning of summer the most bull prediction I remember reading was $10k by NYE. Even John McAfee was only saying $5k or was it 7? That we’ve been bouncing around above 19k for the least couple of days, with nearly two weeks of the year left, is pretty unbelievable. We get used to moving the goal posts quite often but this is bloody insane.
Yeah I wasn’t expecting to get anywhere near $20k until Easter 2018
Each code represents a futures month.
Ie January futures use F and february G and so on - http://www.cmegroup.com/month-codes.html
So for example, BTCF2018 means, BTC(bitcoin) F(January expiration) 2018(year of expiration). So january bitcoin futures expiring next year are trading at X. All futures have various expirations and are used for hedging and risk mitigation. Think about wheat farmers that are growing crops now but sell the july 2018 wheat futures for example, so they can lock in a price and budget their own finances according to that price. Bitcoin miners may start using these bitcoin futures to sell short futures contracts if the bitcoin price perhaps looks ‘expensive’ and they want to lock in a price now, capturing that profit.
Anyway, hope that helps.
Yep and looking bullish through to June
These panics seller xD pathetic
Not panic selling just competing strategies
$40 million sell wall right on 20k, when that gets eaten we all know where we’re off too next… ill give a little hint ( )
Another interesting few mins but no really change again due to the futures.
You can see the contracts’ market data at the CME site. It’s on a 10 minute delay. Almost 200 contracts sold so far.
Each contract is for 5 bitcoin. So basically $100,000 per contract.
200 x $100,000 = $20 million in their first hour.
Very True, 5 BTC min bet really puts it in perspective.
Keep in mind, no physical bitcoin needs to be bought or sold with these contracts. But in many cases the contracts will end up being hedged with actual bitcoin.