So let’s face it. We’re currently in a pretty bad market dump. But, that’s just crypto for you. So, I’m here trying to find some kind of saving news that will pump the price of btc, which should also revitalize alts.
I found this: Cantor Exchange is planning on offering bitcoin futures-like trading. But the start date is still TBA.
Let’s rewind a bit. If you remember, on December 16, 2017, BTC’s price started to sharply rise as it approached the 18th, which is when CME BTC futures started trading. CBOE BTC futures had a similar pump effect on the market, but it played out more gradually from the very start of December, with sharper inclines as the trading start date neared (10th) (the DDOS on the exchange’s site crashed BTC’s price significantly though on the 10th.)
Also, the CBOE BTC futures contract expired on January 17, 2018, which is also when a sharp decline in BTC’s price happened. When CME BTC futures contract expired on January 26, 2018, there was also a sharp decline in BTC’s price.
You might say these are cherry-picked coincidences, but many are whispering that people who short bitcoin are behind the price dump. I’m not saying yes or no, but I like to be aware of such possibilities because I’d rather trade conservatively during these key dates.
That said, when Cantor Exchange starts trading their bitcoin futures, I’m willing to believe that the price will pump (yessss) a few days before (either due to hype or manipulation). The price may also likely fall when the Cantor bitcoin futures contract expires. So these are two key dates to watch out for.
You can check this page for updates on their futures trading start date: http://www.cantorexchange.com/cantor-exchange-announces-launch-of-bitcoin-swaps/
Do not follow me or rely on my word for your own crypto trading. This is not investment advice – it’s a blog post about my own adventures in trading cryptocurrencies. If you choose to copy my decisions, you do so at your own potentially probable financial peril. I’m not an expert in cryptocurrency trading and do not purport to be.