Data from BitMEX shows that Europeans are trading in bitcoin futures contracts, on BitMEX. That is a conclusion you might draw on the basis of its busiest trading times.
The European languages have been the most active in the last month.
Here hourly volumes are to be in UTC time for BitMEX’s XBTUSD contract
The Morning you get to Asia + Europe, and afternoon in Europe + US. Will be hard to disrupt the time zones! pic.twitter.com/gbhAJ7XrSE
— skew (@skewdotcom) on December 15, 2019 at the latest
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Bitcoin and the dollar are trading
The greater part of the volume is on BitMEX, last month, it looks like the Europeans will have to come out. We are especially focused on the pair XBT/USD. XBT stands for bitcoin and the USD is the Us dollar.
However, the data in it is nothing compared to the glory days of BitMEX. On the 26th of June, there was a 16-billion-dollar contracts to trade on BitMEX. A new all-time record.
Today, set a new record for encryption: >$1B: open interest on XBTUSD, >$13B traded on XBTUSD, >$16B on all BitMEX products. Yet, @Nouriel, still believes that cryptocurrencies are a farce. Watch him in a face-to-face next week in Taipei and usa, our goal is to be a CEO, @CryptoHayeshttps://t.co./iYxEydvD33 pic.twitter.com/Zdd2Bwkv5X
— BitMEX (@BitMEXdotcom) On June 27, 2019
Futures contracts are
BitMEX has single-handedly taken care of that a lot of private investors/gamblers and futures contracts on the bitcoin site. In the meantime, it offers almost each and every exchange with a similar product.
Institutional investors can collaborate with CME, and in Bakkt to other similar products. These parties have to offer in addition to a bitcoin-based contract, as well as the fiat-based contract.
Many people agree that this is not good for the natural growth of the bitcoin exchange rate and to short to go on the course, to ensure that bitcoin is in 2018, is fully ingekakt.
Short sales is a positive development
Author Andreas Antonopolous, it is agreed, however, says that this is not necessarily bad, it is:
“Now We know for sure is that when the bitcoin exchange rate in 2017 and quickly began to rise, the US Treasury decided to place bets on futures markets and to speed up the bubble to stop it.’ He was referring to the launch of the CME. “A lot of people think of it as a conspiracy against bitcoin, but it is the oath to work in the Treasury.’
‘Prijsonderdrukking, it is not a matter of conspiracy, it is a market-based approach, for those of you who are not in the cryptocurrency’s belief in a contrary position to the short go.
This is the rise in prices slowed down, but we also make sure that there will be less volatility. “A market that just consists of its proponents, it will be very ‘one-sided’ it’s’, he said.