JP Morgan announced that options on Bitcoin CME Group could drive the market. Then they are released to the 13th of January, it is expected that an increase in the interest for cryptography. One of the largest banks in the united States predicted good news for the criptomoneda. A group of analyst of JP Morgan Chase, said that interest in the future of Bitcoin CME had been fired in the period prior to its launch. This may indicate that, once the CME Group launch their options in cryptocurrencies, the interest for them will grow even more. Although nothing is for sure, the group of JP Morgan, led by Nikolaos Panigirtzoglou, is quite inclined toward this alternative. In addition, the group of analysts makes a special reference to a renewed sense of anticipation on the part of the public. “This activity is unusually strong in the last few days probably reflects the great anticipation among market participants of the contract of option.” They also made a comparison with the main competitor of CME, Bakkt. According to the group of JP Morgan, these events marked an interesting contrast with the introduction in December of the options of Bitcoin in Bakkt. According to reports, the volumes for that product is still “quite small”, when it is expected to increase at a faster pace.
A sample of the future of the market
Although in general the future of Bitcoin take a little longer to gain momentum, it is believed that the variety of CME will do so quickly. One of the main explanations for this is that the start of futures trading occurred prior to a price drop of BTC. But, as now there are no such circumstances, it could be the differentiator between the two processes. However, other analysts do not give much credit to this reasoning. Among the theories that are most popular highlights which gives more prominence to events external to the own price of Bitcoin. For example, the commercial director BitPay Sonny Singh, stated that even a small segment of new investors entering BTC is enough to move the market in a decisive way. On the other hand, some commentators are of opinion attributed the strong performance, including that related to the CME, to the geopolitical uncertainty centered in Iran last week. Although there erupted an armed conflict between the united States and the country in the Middle East, the tension because an event of this magnitude occurs, it affected the market cryptographic. To conclude, Singh also mentioned that, taking into account these events, predicted that Bitcoin will exceed its historic peak of almost $ 20,000 this 2020. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.