Will Bitcoin hit $8k in December due to CME

Bagaji

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Quote from: scottykarate on November 14, 2017, 02:41:59 PM

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

Op, your prediction happen was too small for Bitcoin price movement. What we are currently talking about is $10,000 before end of December this year for $8000 resistance was break today despite the fact that it later decline below the height of $8000 there full hope reaching $10,000 before end of December this year.

1Referee

legendary

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Quote from: John Langut on November 19, 2017, 09:41:55 AM

Who needs whose approval?

CME needs approval from CFTC (Commodity Futures Trading Commission) if they want to actually offer Bitcoin centered future trading. It's basically the same as how things were with the previous ETF's - these financial products need regulatory approval. Good thing is that we will likely see them approve or reject their plans before the end of this year. In a perfect situation, institutions will be able to jump into this market this year, or ultimately, somewhere in the first month of 2018. If the market is indeed increasing due to CME, we will likely face a dump after rejection, so it will be interesting to see how things will play out.

jackhdt

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I'm not sure that CME will affect Bitcoin, namely CME makes Bitcoin price increases. however Bitcoin will hitting $ 8000 in December is quite possible
This recovery phase is quite robust

John Langut

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Quote from: 1Referee on November 19, 2017, 09:06:05 AM

Quote from: John Langut on November 19, 2017, 09:00:05 AM

If they can pause the market for whatever reason, what other tools do they have to control the market?

Considering the frequent volatility, and then also taking the intensity of the volatility in mind, one doesn't need to be a rocket scientist to see that they will halt their market on a very frequent basis. Cheesy

He did say they would tame Bitcoin.

Quote

But before everyone starts worrying about what might or might now happen, let them first get their approval, because if that isn't the case, there will be no CME involvement in Bitcoin.

Who needs whose approval?

bitcoinvamp

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Quote from: scottykarate on November 14, 2017, 02:41:59 PM

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

After looking at the rising market of bitcoin it seems clear that it will easily go up and could easily reach 8000$ by 2nd week of december. But this extreme raise in price in a very short time conveys that bitcoin is becoming more volatile than before and could drop at any time.

1Referee

legendary

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Quote from: John Langut on November 19, 2017, 09:00:05 AM

If they can pause the market for whatever reason, what other tools do they have to control the market?

Considering the frequent volatility, and then also taking the intensity of the volatility in mind, one doesn't need to be a rocket scientist to see that they will halt their market on a very frequent basis. Cheesy

It will not have an impact on this market since all their Bitcoin related financial instruments they use are tied to the rates of the higher tier Bitcoin exchanges. In other words, our exchanges will still be the main cause of CME temporarily halting their markets. But before everyone starts worrying about what might or might now happen, let them first get their approval, because if that isn't the case, there will be no CME involvement in Bitcoin.

John Langut

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After reading about the "bumpers" is anyone else having doubts CME Bitcoin Futures is a good idea for cryptocurrencies? If they can pause the market for whatever reason, what other tools do they have to control the market?

AVAMONEY

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Quote from: scottykarate on November 14, 2017, 02:41:59 PM

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch
It's interesting how Terry Duffy said "I should not be trying to predict the price of products. I'm here to manage the risks of products"
I think if what Terry Duffy will do succeed then the price will exceed 8k, maybe up to 10k before the end of the year.

klaaas

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Good chance $8k is the new bottom by then OP. Wink

Quote from: lobo13hf on November 16, 2017, 04:55:12 AM

it looks the community will try to think for a twice to accept the bitcoin segwit 2x apdate to decrease the fees of the bitcoin transaction. we know the bitcoin transaction fees goes to the sun right now.

This problem will always occurs when there are limits to a size and ppl need to pay to get served first.
If there are no limits in size and/or no fees it will be abused/over used.

STT

legendary

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Quote from: timerland on November 15, 2017, 12:14:02 AM

The price will definitely get bumped up by this, and will generate a lot more publicity for bitcoin. As the saying goes any publicity is good publicity. However, i just don't know how this will influence the pricing in the long term.

I'm not a fan of futures trading or high leveraging.

Basically a recipe for market manipulation, especially on such a large scale market.

I dont think its certain because price rises in anticipation of events like this. Buy the rumour, sell the news is the famous saying which probably fits this also. CME adds leverage to BTC involvement possibly and maybe a wider audience Im not sure, I think its just speculators not as much investors who take a contract this way ?

The other thing is that it might add sellers who want to short Bitcoin. This is easier to do in dollar denominated assets then bitcoin which is inherently resistant to leverage, Im not sure but its not a one way street. With volatility I think CME requires greater amounts of deposit to match positions in any contracted trade, so we might see more selling from this or greater trends then previously.

The reason I commented really was to say to OP, $10,000 not 8,000 is more like a correct target if much real effect is felt by the market. People might have an idea of IPO and a vast influx but my guess its quieter.
The other scenario its just a paper setup and not much actual difference in trade volume is observed ( this year)

poodle63

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Quote from: jjacob on November 15, 2017, 07:33:23 AM

The price has recovered extremely strongly to back over $7k. The failure of Segwit2x and the resulting fall now seem like a bad dream. I wouldn't be surprised if we crossed $8k in November itself.

We have crossed 8k just in short time. but the next will be above 8k. As the cancellation of the segwit2x and with a lot of the attacks from the bitcoin cash shit fans that was really hurting the price of bitcoin. but they are know the fact bitcoin is only the one.

sana54210

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Quote from: scottykarate on November 14, 2017, 02:41:59 PM

Any guesses as to whether BTC can make another run during the 2nd week of December when CME is slated to go 'live' with the futures trading?

Seems like they've firmed the date up:

https://www.cryptocoinsnews.com/not-going-to-let-it-go-to-zero-cme-chief-downplays-fears-ahead-of-december-bitcoin-futures-launch/

Hopefully BTC will start another nice run and get out of the doldrums created by Ver and his gang.

$8k is already a small amount as that is imminent already. I foresee bitcoin's value going far more than that.
Roger and Jihan cannot harass bitcoin and the stunts they have pulled normally would only have lasted for a short period of time with or without CME. However, the CME news will cause a huge boom for the value of bitcoin, but we still have to be on the watch out as well.

Wayan_Pedjeng

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Looks like we'll reach the 8K mark this month itself. I read somewhere that there is no major resistance for Bitcoin until $10,000. So hopefully by the end of this year, we may be able to breach $10K.

batang_bitcoin

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Quote from: ask on November 16, 2017, 04:05:35 AM

I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

We are now getting close to $8,000 and as long as we are good with $7,000 as floor price I'm confidently going to keep on holding my bitcoin. And if bitcoin will be getting through and breaking barrier of $8,000, let's expect that $10,000 is so close. But don't forget that there will be some correction that might happen along the way of bitcoin at the top of the peak.

lobo13hf

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Quote from: jjacob on November 15, 2017, 07:33:23 AM

The price has recovered extremely strongly to back over $7k. The failure of Segwit2x and the resulting fall now seem like a bad dream. I wouldn't be surprised if we crossed $8k in November itself.

Nope, it seems some people are spreading about the rumour of comeback bitcoin segwit 2x in the future. There is no reliable source for that but it looks the community will try to think for a twice to accept the bitcoin segwit 2x apdate to decrease the fees of the bitcoin transaction. we know the bitcoin transaction fees goes to the sun right now.

Yaunfitda

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Quote from: ask on November 16, 2017, 04:05:35 AM

I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

You are correct, such a recovery of bitcoin. Today the price continue to climb to $7500 and what? it just $500 before we can get it $8000. So its really possible to get it before December and at the end of the year the much awaited $10000 is the target. So guys just give holding our bitcoin and do not sell it off.

ask

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I thinks its already going to target more earlier. Now around 7500 level and seems like in few days we will see 8000 easy
This will open doors to 10.000 usd in a month.

KualaBit

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Quote from: DonQuijote on November 15, 2017, 03:17:07 PM

They can short btc too, dump is possible...

I agree bitcoin can go either way. But it is december so I guess I'll go for the yes Bitcoin will hit $8k at the end of December. This CME will give Bitcoin a good image if implemented perfectly.

eagleman

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Quote from: DonQuijote on November 15, 2017, 03:17:07 PM

They can short btc too, dump is possible...

Possible to see a dump when they started to get in with bitcoin. But the first trial will be a positive one to bitcoin, many will also chase up the profits that they can make. And traders now are too wise when it comes to these news, it's either they'll invest and sell later for the profits and will be monitoring the movements after they adopted.

There's a chance that it can hit $8,000 but still be vigilant and don't be too confident.

DonQuijote

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They can short btc too, dump is possible...

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