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Bitcoin Futures Trading Starts on CME, Bitcoin Briefly Hits $20,000 - Dec 18th Cryptocurrency News

560 views · Published 18 December 2017 · 2:39 · Indexed 10 November 2026

Channel: NEWSBTC · 2017 · Science & Technology

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The world’s largest derivatives exchange operator CME group has started trading bitcoin futures. The CME bitcoin front-month futures opened at $20,650. CME is a much bigger player in futures than Cboe, who also recently introduced the trading of bitcoin futures. So lets take a closer look.

Cboe’s contract is only tied to Gemini but CME's Bitcoin contract will be derived from prices on four exchanges. This means that CME's Bitcoin contract could actually produce much more liquidity and be more interesting from an intuitional perspective. TD Ameritrade will offer clients access to Cboe's bitcoin futures contract starting from today. Independent research analyst Ronnie Moas told CNBC recently that he sees Bitcoin reaching $300-400,000. 

He said, “Bitcoin is already up 500 percent since I recommended it in the beginning of July, and I'm looking for another 500 percent move from here,” "I don't know how much gold there is in the ground, but I know how much bitcoin there is, and in two years there will be 300 million people in the world trying to get their hands on a few million bitcoin.”

 Financial Analyst Peter Brandt does not believe that Bitcoin is in a bubble. He posted on twitter that “Underlying distributed ledger blockchain technology will revolutionize global finance. I think the term "mania" is a more appropriate description.” Let’s take a closer look at the performance of Bitcoin over the past few days. On Thursday bitcoin was under $17,000 then we saw it climb over this level on Friday, it continued its surge briefly hitting $20,000 on Sunday before falling lower. We saw it fall under $19,000 today and today it remains over this level.

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