CBOE suspends Bitcoin futures. Will Wall Street pass the crypts again?

I don’t have much faith in Wall Street. This attitude is so strong that they give the impression of thinkers independent of the flock of sheep. How many times have you seen Wall Street shout “buy” when the market is at its peak and shout “sell” when the market is down?

Wall Street makes mistakes so badly and so often that you can make a lot of money just by doing the opposite.

The world of crypto offers you a great example of this last week …

The stock exchange CBOE started offering Bitcoin futures trading for the first time in 2017. year 10. December. Wall Street’s reflexive response was to raise the price of Bitcoin by $ 2,000 a day to $ 17,382.

Futures contracts give investors the opportunity to bet whether the price of a commodity – in this case Bitcoin – will rise or fall by a certain date.

The monkey looks, the monkey does … – Wall Street style

As a testament to this statement, the Chicago Board of Trade (CME) soon began in 2017. year 18. December – Bitcoin futures trading.

Unfortunately, CBOE and CME could not have chosen a worse time! The prices of Bitcoin and other cryptocurrencies peaked around the same time. In retrospect, the perfect decision would have been to do the exact opposite and become harsh on cryptocurrencies.

But you know what? Now’s your chance to take advantage of the idiocy of Wall Street honeycomb.

I’m talking about the CBOE’s fresh decision to abandon Bitcoin futures.

“The CBOE Futures Exchange does not plan to add the CBOE Bitcoin Futures to its trading list in March 2019. The CFE is reassessing its approach in light of its future plans to trade in digital derivatives. CFE does not currently plan to list other XBT futures on its trading list. XBT futures contracts already on the list will remain open for trading. “

They still have some active Bitcoin futures contracts that expire in April, May and June. But futures contracts expire every month. So the CBOE’s decision to end the inclusion of new Bitcoin futures contracts means that there is no one left in June.

It was a pretty short year and a half.

The common sense is that this is a big step backwards for both cryptocurrencies in general and Bitcoin in particular.

Wrong!

Gathering Forces for a New Rise

If you haven’t read Juan Villaverde’s latest posts on Bitcoin, I encourage you to do so, starting with “The New Facebook Coin: 3 Mistakes Experts Make” .

In this article, he explains exactly what crypts are and why markets are confirming their success over and over again.

In his own words:

“Bitcoin was born with a fundamental promise – to create an open, public, shared database; to eliminate the need to trust any intermediary with its sensitive information; and to move money securely, privately and definitively. That promise has been fully fulfilled.”

That doesn’t mean you should rush to buy Bitcoin tomorrow morning. As always, timing is paramount, so I encourage you to wait for Juan’s next buy signals before investing your hard-earned money.

But the CBOE’s decision is a clear signal that Bitcoin’s next big move will be a rise, not a fall.

Best wishes,

Tony Sagami

PS Although CBOE has decided to stop trading Bitcoin futures, CME plans to continue to do so. And ICE, a major international exchange, also plans to launch Bitcoin futures on its Baktti cryptocurrency exchange later this year.

Article – Weiss Ratings

Translation: Lucreds Plus OÜ