The latest reports on the course of Bitcoin are somewhat sobering. With trading at a fevered pitch and Bitcoin soaring, the top cryptocurrency will test its next plateau.
Next up: Wall Street.
Now that Bitcoin futures are a done deal, with institutional money set to pour through options on the NASDAQ, CME and Cboe, the short-term future for Bitcoin’s market value will be impacted by big shorts. “Ordinary traders”, those individuals who got in during the mania, are set to stand on the sidelines as Bitcoin trading morphs and enters the inevitable derivatives dimension.
While government regulators promise to monitor Bitcoin futures and protect them from market manipulation, what’s next may be as complicated as The Big Short.
Writes RiversandMountains in an opinion column on yours.org: