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Bitcoin Futures Launch makes Price surge as CBOE Website Crashes

Dec 12, 2017 Posted /  1460 Views

Bitcoin Futures Launch makes Price surge as CBOE Website Crashes

On Sunday the Chicago Board Options Exchange (CBOE)'s website went down moments later it launched its initial Bitcoin futures contracts.

The website unavailability according to reasoning attributed by CBOE was the considerable traffic which resulted due to the futures launch. The website specified the clarification in a post on Twitter.  However, the tweet concurred with an unexpected surge in the price of Bitcoin. According to the stats provided by various Price Indexes, the value of the Bitcoin jumped from $14,509 $15,732 at the very instant.

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Nonetheless, at present, CBOE's website is available with delayed information about the contracts being offered. Even the price of Bitcoin has upheld a stable pace since the initial swell, and now it is trading at approximately at $16,800. The figures suggest that purchasers are eventually buying contracts. The commotion has fundamentally conspired around the initial contract. This contract was dated January 17, 2018, while social media posts cleared that the purchases of the contracts are arranged to expire on March 14.

The reports by CNBC depict that around 672 January contracts have been sold at a price of $15,800. It can be apprehended that the chaotic start is conceivably an appropriate beginning to the trading of the new contracts. CBOE is the first to be traded on a prime regulated exchange in the U.S. and proposed to be followed by CME Group. The CBOE is on tenterhooks that the futures launch will provide a boost to cryptocurrencies market, together with a probable transfer into exchange-traded funds and notes. However, it depends on the approval by SEC.

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Tags: Bitcoin Futures bitcoin CBOE

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