Topic: [2017-12-07] Bitcoin Goes Parabolic, Blows Past $14,000 to Post $2,500 Single Da (Read 669 times)

this Tom is a very good question, and one which will play out
over the next year I suspect. Are these NEW PLAYERS going
to affect BTC negatively?

What would "Negatively" mean, i am not sure  

I dont know what Futures are so personally I need to research
and hopefully someone can throw their opinion in as to the
future of this futures game which is set to launch.

This month and into the new year 2018, we are about to witness the dizzying launch of so many exchanges offering their own versions of Bitcoin Futures Contracts. I have been saying this all along when CME officially announced last month of their intention to file license in offering the futures. Now, there are already many who could not be stopped in joining the futures bandwagon. Now, am thinking a very critical question: Will this new trend be helping Bitcoin long-term or will this actually stifle its growth and value? Honestly, I would rather watch what will actually happen rather than add my speculative opinion though deep inside am hoping that the trend can be positive for Bitcoin. Will the futures make Bitcoin's future bright or will it somehow make it dark?

Today Bitcoin surged past the $14,000 level, topping out at $14,400 for a $2,500 gain in a single day. This makes today the largest one-day gain in the history of the currency. To put it in perspective, today Bitcoin’s price increased by more twice as much as it’s 2013 all-time high of $1,100. A single Bitcoin can now buy more than 11 ounces of pure gold.


The price is likely being driven by news of the imminent launch of Bitcoin futures trading. CBOE will be launching their futures market this coming Sunday, December 10, with CME Group following on December 18. Nasdaq plans to launch futures trading in the summer of 2018 and Japan’s Tokyo Financial Exchange is preparing to launch futures trading as well.

Bloomberg has announced that brokerage firms TD Ameritrade and Ally Invest will be offering Bitcoin futures trades to their clients. Even J.P. Morgan Chase may follow suit, despite CEO Jamie Dimon’s infamous views on the digital currency.

GDAX, Coinbase’s digital currency exchange, has been leading the rally all day. The price on GDAX is currently about $500 ahead of other Western Bitcoin exchanges. The likeliest - and most bullish - explanation is that Coinbase is the easiest way for new Bitcoin investors to get involved. Consequently, when GDAX leads the charge as it has today, it probably means new “retail” investors are fueling the rally.

https://cointelegraph.com/news/bitcoin-goes-parabolic-blows-past-14000-to-post-2500-single-day-gain