Bitcoin Today: Ether futures
Price
Yesterday Bitcoin didn’t manage to withhold the 7000 level and went down into a correction. Later BTCUSD lowering was stopped by 6800 support, the price even showed a rapid comeback to the 7000 but did not manage to gain enough power to break above it. For now, local view of the price is a correction to the recent uptrend movement, from the wider view – recent growth looks like a correction to bearish trend and to change this overview the price needs to get above 7300 level. The main upward target stays 7000 – 7300 zone, breakthrough above this zone will be read as an upward signal. From the downside, a break below 6800 will be enough to eliminate all positive mood that market gained during the recent growth.
Today forecast
Trading in the 6800 – 7000 zone. Breakthrough above 7300 – bullish signal.
Latest news
Yesterday Bitcoin didn’t manage to withhold the 7000 level and went down into a correction. Later BTCUSD lowering was stopped by 6800 support, the price even showed a rapid comeback to the 7000 but did not manage to gain enough power to break above it. For now, local view of the price is a correction to the recent uptrend movement, from the wider view – recent growth looks like a correction to bearish trend and to change this overview the price needs to get above 7300 level. The main upward target stays 7000 – 7300 zone, breakthrough above this zone will be read as an upward signal. From the downside, a break below 6800 will be enough to eliminate all positive mood that market gained during the recent growth.
Today forecast
Trading in the 6800 – 7000 zone. Breakthrough above 7300 – bullish signal.
Latest news
- [*]Ethereum futures will be a sign of crypto-markets maturity
Chicago Board Options Exchange (CBOE) intends to launch futures trading on Ethereum by the end of this year, reported by Business Insider with reference to its own sources.
Sources report that CBOE futures on Ethereum will be based on the market data of the Gemini Exchange, the same solution the Chicago Options Exchange used during the launch of Bitcoin futures in December of the last year.
At the moment, CBOE is awaiting the approval of the US Futures Trading Commission (CFTC) and will launch Ethereum-futures trading after the corresponding decision.
According to Danny Kim, SFOX's development director, the CBOE proposal will allow traders to use both long and short positions on ETH, which will be the next step towards adopting this asset class.
“With this, I think the new investment opportunity will take crypto out of the bearish market and reverse to a new bull." - adds Danny Kim.
Earlier, Chicago Options Exchange president Chris Concannon said that SEC had finally removed barriers to the potential launch of Ethereum futures.
Nevertheless, the head of the rival CME Group, Terry Duffy, in July made it clear that he was not in a hurry with the launch of Ethereum futures and other altcoins because of their volatility, taking a wait-and-see position.
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