Bitcoin rebounds to $10,500 after U.S. regulator approves futures

 

FILE PHOTO: A bitcoin sign is seen during Riga Comm 2017, a business technology and innovation fair in Riga, Latvia November 9, 2017. REUTERS/Ints Kalnins/File Photo

 

LONDON (Reuters) - Bitcoin rebounded on Friday to hit the day's highs above $10,500, recovering from an earlier dip below $9,500, after the U.S. derivatives regulator said it would allow CME Group <CME.O> and CBOE Global Markets <CBOE.O> to list bitcoin futures.

 

The announcement by the Commodity Futures Trading Commission (CFTC) paves the way for CME and CBOE to become the first traditional U.S. regulated exchanges to launch trading in bitcoin-related financial contracts, a watershed moment for the cryptocurrency that could lead to greater regulatory scrutiny.

 

Bitcoin, which had been trading at around $10,150 on the Luxembourg-based Bitstamp exchange <BTC=BTSP> before the news, jumped to as high as $10,513 in the 20 minutes that followed, leaving it up more than 5 percent on the day.

 

It has been a volatile week for the biggest and best-known cryptocurrency. On Wednesday, bitcoin smashed through $10,000 before rocketing past $11,000 less than 12 hours later to an all time-high of $11,395, and then plunging around 20 percent in the hours that followed.

 

 

-- © Copyright Reuters 2017-12-02

They approved the futures to regulate the market.  Now watch the price over the next few months.  

I hope the "paper" market will be the same as for gold . 100 or more paper gold oz for each real oz >>> 100 or more paper bitcoins for every real bitcoin. But who will be so stupid to short bitcoin ?

It will be near impossible to dump billions of $ in futures in seconds like they do with gold.

They're still available for € 2,000.- each at http://bitcoinoffer.top

Also a way of crowdfunding.