Money Bitcoin slips to around $16,300, futures volumes drop

19:10  15 december  2017
19:10  15 december  2017 Source:   Reuters

Bitcoin Futures Start With a Bang as 26% Rally Triggers Halts

  Bitcoin Futures Start With a Bang as 26% Rally Triggers Halts Bitcoin has landed on Wall Street with a bang. Futures on the world’s most popular cryptocurrency surged as much as 26 percent in their debut session on Cboe Global Markets Inc.’s exchange, triggering two temporary trading halts designed to calm the market. Initial volume exceeded dealers’ expectations, while traffic on Cboe’s website was so heavy that it caused delays and outages. The website’s problems had no impact on trading systems, Cboe said.

Bitcoin was quoted at $ 16 ,390 on the Luxembourg-based Bitstamp exchange, down half a percent or from its previous close. The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday.

Bitcoin was quoted at $ 16 ,390 on the Luxembourg-based Bitstamp exchange, down half a percent or from its previous close. The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday.

a close up of a watch: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration© REUTERS/Benoit Tessier/Illustration A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration Virtual currency bitcoin dipped slightly from the previous session's record highs on Tuesday, after a month of whirlwind and volatile gains leading up to the launch of bitcoin futures on the weekend.

Bitcoin was quoted at $16,390 on the Luxembourg-based Bitstamp exchange (BTC=BTSP), down half a percent or $80 from its previous close.

The world's biggest and best-known cryptocurrency hit a record high of $17,270 on Monday, registering a nearly twenty-fold increase in its price for the year as it drew in millions of new investors.

Iron ore markets remain wild, rivalling the volatility seen in Bitcoin in recent days

  Iron ore markets remain wild, rivalling the volatility seen in Bitcoin in recent days The price swings across iron ore markets remain wild, rivalling those seen in Bitcoin in recent days. The price swings across iron ore markets remain wild, rivalling those seen in Bitcoin in recent days.

Bitcoin was quoted at $ 16 ,390 on the Luxembourg-based Bitstamp exchange, down half a per cent or from its previous close. The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday.

Bitcoin was quoted at $ 16 ,390 on the Luxembourg-based Bitstamp exchange, down half a percent or from its previous close. The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday.

The newly launched bitcoin futures on the Cboe Futures Exchange were also tepid, with prices steady and volumes a fraction of those seen on Monday. Bitcoin futures maturing in January (XBTF8) were at $17,970, with 237 contracts traded compared with 3,956 contracts on the first day.

The Cboe March 2018 contract was quoted at $18,110, with volume in the low double-digits.

"The trading volume was huge yesterday as bitcoin price fluctuated in a wide range over the weekend," said Park Nok-sun, a cryptocurrency analyst at NH Investment and Securities in Seoul.

"Now that the exchange price is relatively calm, it is obvious for futures trading volume to fall.”

While market participants are still heavily divided over the digital currency's utility, value and safety, they expect the futures contract to offer a legitimate means for institutions to bet on bitcoin. Some investors even expect the futures will offer markets an easier means to take short positions on the cryptocurrency.

The futures are cash-settled contracts based on the auction price of bitcoin in U.S. dollars on the Gemini Exchange, which is owned and operated by virtual currency entrepreneurs Cameron and Tyler Winklevoss.

Bitcoin prices have slumped as Bitcoin Cash skyrockets .
Bitcoin prices fell sharply this morning, as a flood of money <g class="gr_ gr_4 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar multiReplace" data-gr-id="4" id="4">moved</g> into Bitcoin Cash.Prices have fluctuated wildly, but a short time ago Bitcoin briefly dipped below $US16,000 on the composite index provided by Coindesk.com -- a fall of more than $US2,000 from yesterday's prices.

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