Bitcoin is expected to increase in cost.
Today is going to be the debut of trading the futures contracts that are proposed by Intercontinental Exchange Inc. which may affect the delivery of the digital currency, a new episode in Bitcoin’s turbulent history. As to industry analysts, the initial BTC trading market that will be governed by a federal institution could attract traditional investors who have waited on the sidelines to start adding the digital asset to their portfolios. It also aims to build a market structure for economic authorities to take the digital asset seriously.
Chief of the product strategy at TradeStation Crypto James Putra thinks that this move for centralizing and creating a scalable base for crypto-asset investment is a positive action. Because the ICE contracts will deliver original Bitcoin, an investor can probably benefit firstly from the growth in the futures rate and then take the property of the coins.
During this year BTC has risen by 177% and this is a greater result comparing to any other asset globally. The start of cash-settled futures contracts at CME Group Inc. in December 2017 send Bitcoin up by 9% and coincided with its record price of $19,511.
Putra mentioned that when ICE announced about its futures plans in August last year, it highlighted it in part as a way for merchants to adopt cryptocurrencies as a payment method. Its corporate partners include Starbucks Inc. and Microsoft Corp. Yet retail adoption of BTC may still be a ways off.