Bitcoin Lower as Markets Await Futures Launch

Investing.com – The price of the digital currency bitcoin remained lower on Sunday, but was off the lowest levels of the day as investors awaited the launch of trading of the first U.S. bitcoin futures later in the day.

On the U.S.-based Bitfinex exchange, was at $13,951.00 by 08:12 AM ET (13:12 GMT), after going as low as $12,748.00 earlier.

Prices have declined since hitting an all-time high of $17,160.00 on Friday as bitcoin extended its gains for the year after starting 2017 at around $1,000.

Trading of futures tracking the cryptocurrency is set to begin at 18:00 ET on Sunday on an exchange run by Cboe Global Markets, less than 10 days after receiving a green light from the Commodity Futures Trading Commission.

Larger exchange CME Group (NASDAQ:) will begin initial listings of bitcoin futures contracts on December 18.

The move opens the door to more regulation but also more mainstream adoption, as bitcoin futures and other derivatives would make it easier to trade the new asset class…

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