The Chicago Board Options Exchange (CBOE), launched their bitcoin futures option over the weekend, an entire week before their competitor, CME Group. However, the newly launched feature crashed only one hour after its launch.
Despite the crash, hordes of people started investing in the exchange platform’s bitcoin futures and drove the price up to new highs. This incident also proved to all mainstream finance skeptics what a powerful force bitcoin has become.
Crypto enthusiasts and investors had a decidedly positive reaction to the launch, and this is clearly observable in the booming market.
This enthusiasm was also voiced on various social media platforms. Experts and bitcoin neophytes rejoiced in the bitcoin futures launch, as it indicates a rapidly shifting mind shift of mainstream financial institutions. The noted stock market analyst, Ronnie Moas, compared the bitcoin futures launch, to that of Amazon it 1997. Moas himself invested $100,000.
https://twitter.com/RonnieMoas/status/940034405787058182
This Twitter user, in particular, claimed to be the first person ever to partake in CBOE’s bitcoin futures:
https://twitter.com/Irishroundtable/status/939994204264157184
However, the launch was also met with some criticism. The American actor, James Woods, who previously issued caution when it came to bitcoin, has also decided to take a cautious approach when it comes to bitcoin futures:
https://twitter.com/RealJamesWoods/status/939911730494193664
The economic broadcaster and commentator, Brian Kelly, was also there to capture the first historic bitcoin futures listings on the platform:
https://twitter.com/BKBrianKelly/status/939996269208113152
However, even Bitcoin enthusiasts were sceptical of it being launched on a mainstream platform. Trace Meyer, a popular Bitcoin podcaster, noted that the Bitcoin network was still up and running, shortly after CBOE and Coinbase crashed.
https://twitter.com/TraceMayer/status/940005435016384512
Meanwhile it was Holger Zschaepitz, a prominent financial editor, who pointed out the most important thing, which is the price of bitcoin remained stable after CBOE crashed.
https://twitter.com/Schuldensuehner/status/940002222284435456
Bitcoin Futures are admittedly off to a rocky start when it comes to traditional investing platforms. However, while this was perhaps not the launch CBOE hope for, the success of the new feature, can likely only be determined after the first week of trading.
Despite the crash however, CBOE confirmed that in its first two hours after launch, bitcoin futures already boasted 800 contract trades.
https://twitter.com/CBOE/status/940028769619685377
According to a Bloomberg report, the crash was caused by price circuit breakers. The circuit breakers where implemented in order to control market volatility. Once the price of bitcoin changes more than 30% at a time, the circuit breakers kick in and trading is halted for five minutes.
Despite the crash, hordes of people started investing in the exchange platform’s bitcoin futures and drove the price up to new highs. This incident also proved to all mainstream finance skeptics what a powerful force bitcoin has become.
Crypto enthusiasts and investors had a decidedly positive reaction to the launch, and this is clearly observable in the booming market.
This enthusiasm was also voiced on various social media platforms. Experts and bitcoin neophytes rejoiced in the bitcoin futures launch, as it indicates a rapidly shifting mind shift of mainstream financial institutions. The noted stock market analyst, Ronnie Moas, compared the bitcoin futures launch, to that of Amazon it 1997. Moas himself invested $100,000.
https://twitter.com/RonnieMoas/status/940034405787058182
This Twitter user, in particular, claimed to be the first person ever to partake in CBOE’s bitcoin futures:
https://twitter.com/Irishroundtable/status/939994204264157184
However, the launch was also met with some criticism. The American actor, James Woods, who previously issued caution when it came to bitcoin, has also decided to take a cautious approach when it comes to bitcoin futures:
https://twitter.com/RealJamesWoods/status/939911730494193664
The economic broadcaster and commentator, Brian Kelly, was also there to capture the first historic bitcoin futures listings on the platform:
https://twitter.com/BKBrianKelly/status/939996269208113152
However, even Bitcoin enthusiasts were sceptical of it being launched on a mainstream platform. Trace Meyer, a popular Bitcoin podcaster, noted that the Bitcoin network was still up and running, shortly after CBOE and Coinbase crashed.
https://twitter.com/TraceMayer/status/940005435016384512
Meanwhile it was Holger Zschaepitz, a prominent financial editor, who pointed out the most important thing, which is the price of bitcoin remained stable after CBOE crashed.
https://twitter.com/Schuldensuehner/status/940002222284435456
Bitcoin Futures are admittedly off to a rocky start when it comes to traditional investing platforms. However, while this was perhaps not the launch CBOE hope for, the success of the new feature, can likely only be determined after the first week of trading.
Despite the crash however, CBOE confirmed that in its first two hours after launch, bitcoin futures already boasted 800 contract trades.
https://twitter.com/CBOE/status/940028769619685377
According to a Bloomberg report, the crash was caused by price circuit breakers. The circuit breakers where implemented in order to control market volatility. Once the price of bitcoin changes more than 30% at a time, the circuit breakers kick in and trading is halted for five minutes.