Special Sunday post:
$20K bitcoin before the CME futures begin trading at 6pm Sunday night.
The crypto neared $19,800 overnight based on the outcome of last week’s CBOT futures trading reaction.The fear and loathing of futures trading allowing Wall Street to short bitcoin and drive the price down is passing due to the mechanism of the options trade.
Both the CBOT and CME futures contracts settle in cash, therefore there is no need to buy or sell bitcoin at settlement time, which was the FUD (fear, uncertainty and doubt) within the market.
The bitcoin futures is just a side bet. Sort of like picking the coin toss of the Super Bowl. That bet will not change the point spread of the game, but the side bet allows additional exposure to the overall money wagered on the game.
You also have Ameritrade, Nasdaq and other exchanges jumping into the futures market before the end of the year. These will be the same gaming trade with speculative options with no underlying purchases.