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The Chicago Mercantile Exchange (CME) Group has announced the expected date to launch options on Bitcoin futures in an announcement on Nov. 12.

CME Group revealed: “In response to growing interest in cryptocurrencies and customer demand for tools to manage bitcoin exposure, CME Group will launch options on Bitcoin futures on January 13, 2020,” It is also mentioned that the upcoming product is still pending regulatory approval.

Intentions on BTC futures options

BTC futures options are intended to help institutions and professional traders manage spot market BTC exposure, and enable them to hedge BTC futures positions in a regulated exchange environment. Besides, options would likely enable Bitcoin miners to more accurately hedge the costs of their production.

However, the trading volume and liquidity of BTC futures options are much lower than the heat of recent market discussions. After reviewing some representative cryptocurrency options products such as the BTC option of bitcoin derivatives supplier LedgerX and JEX(acquired by BInance), We found the number of orders is very limited. As a result, the transaction frequency is quite low and the liquidity is very bad.

Comparing to options, the trading volume and liquidity of futures are much higher. In cryptocurrency trading market, perpetual futures contract is the most popular one and more similar to the spot trade without expiration.

As a global crypto derivatives trading platform, Bexplus provides 100x leverage perpetual contracts of BTC, ETH, LTC and other altcoins. With 100x leverage added, you can use 1 BTC to open a position of 100 BTC by going long (speculating BTC price up) or going short (speculating BTC price down). Different from weekly or quarterly contracts, you can open or close the perpetual contract anytime you want to be based on your analysis.

Registered in Saint Vincent and the Grenadines, Bexplus has established offices in United States, Brazil, India, Australia. Now it has gained more than 100,000 users, covering 36 countries and supporting 21 kinds of languages.

Bexplus provide secure and reliable cryptocurrency trading services, guaranteeing users’ funds and transaction security through distributed servers, cold wallets with multi-signature encryption, anti-DDoS protection systems and other advanced technologies.

Latest promotion activities of Bexplus

New User Welcome Package

To register in Bexplus, you will get a $10 bonus and 10% off of trading fee, and there is a $100 bonus for the first deposit!! If you are new to cryptocurrency futures trading, there are 10 BTC for you to try in the trading simulator after registration!!

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100% Deposit Bonus

To deposit BTC in the Bexplus account, you can earn 100% BTC bonus, which can also be used to trade futures contracts. The more deposit, the more bonus you will get. You can get up to 10 BTC as a bonus!!

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Crypto Daily , 2019-11-23 16:00:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

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Nick Chong , 2019-11-10 12:00:38

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