CME Bitcoin Futures Contracts To Expire On Friday, What Crypto Investors Should Pay Attention To
CME Bitcoin Futures Contracts Ready To Expire On Friday
The Chicago Mercantile Exchange (CME) Bitcoin Futures Contracts expire every single last Friday of the month. And in November it will not be the exception. On Friday, November 30, Bitcoin futures contracts will be expiring. The first trade started on September 4, 2018, and the settlement takes place on December 5.
At the same time, the contracts are scheduled to expire on December 28, January 25, February 22 and March 29. It is important to remember that the futures contract is halted at 4 pm London Time.
There are different experts that have been analyzing how futures contracts can affect the price of the most popular virtual currency. When these futures contracts are about to expire, the cryptocurrency market tends to be less active and highly volatile.
Nevertheless, since the beginning of November, the crypto market has experienced increased volatility that affected most of the prices of virtual currencies. Indeed, the market plummeted more than 30% in just a few days. Bitcoin was also able to break the $4,000 dollars’ barrier and was traded close to $3,500 dollars.
Taking this into account, the expiring Bitcoin futures might not have a clear effect in the crypto market. The market could continue to behave in the way it is doing it since November 14.
At the time of writing, Bitcoin is traded around $3,715 dollars. It also has a market capitalization of $64.64 billion dollars.