Bitcoin is on the cusp of mass adoption, with futures trading starting on the CBOE from 6 p.m. ET on Sunday and on the CME from December 18. After the buying frenzy of the past few days, the question in everybody’s mind is whether the trading in futures will boost prices higher or will the short sellers use the opportunity to sink prices lower.
This is an unprecedented event; hence, it is very difficult to forecast the final outcome. Nevertheless, the volatility is likely to remain high in the first few hours and days of futures trading, as both the bulls and the bears slug it out at the CBOE.
While the intraday traders can use the opportunity to profit from the volatility, it will be a difficult time for the investors.
Additionally, how will the trading in Bitcoin affect the altcoins? Will it be bullish or will bitcoin garner all the attention?
We will get the answers next week. Until I get a clear picture, I will not recommend any trading positions at the moment…