Bitcoin: Possibly Going Down All The Same

By CryptocurrencyDec 06, 2017 07:52AM ET

www.investing.com/analysis/bitcoin-possibly-going-down-all-the-same-200270908

Bitcoin: Possibly Going Down All The Same

By | Dec 06, 2017 07:52AM ET

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The planned launch of Bitcoin futures at CME Group Inc. (NASDAQ:CME), Cboe Global Markets Inc. and Nasdaq Inc. can become the latest milestone in the history of cryptocurrencies. The hedge funds which have sidelined Bitcoin so far, are waiting for the opening of the futures market on Chicago Mercantile Exchange, in order to be able to short the asset. Actually, the interesting thing about the full-fledged futures is that it provides an opportunity to short sell. Perhaps the presence of a tool which facilitates the opening of shorts can slightly bring the price of Bitcoin closer to reality. Recall that the growth of the ancestor of the cryptoindustry, in the recent years, has been phenomenal, having risen by over a million percent. The initial investment of $1 would now be valued at more than $1.4 million. Over the same period, the dollar invested in the S&P 500 Stock Index would have cost less than $ 4, taking the reinvested dividends into account. Some people consider Bitcoin to be the greatest fast-cash opportunity that ever existed, hence the idea that it is a bubble and a pyramid can rally a large number of skeptics, who are looking for a chance to short sell. Who knows, maybe we are on the verge of a full breakdown of the trend movement. Think about it at least.

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Bitcoin: Possibly Going Down All The Same

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