CME Bitcoin Futures Could Have Their Best Month Since They Were Created Despite CBOE Exiting
Bitcoin futures could have their best month in May this year. This is according to CNBC Futures Now that said on Twitter that Bitcoin futures will be registering their best month since they were created in 2017. The Chicago Mercantile Exchange (CME) was the second institution offering Bitcoin futures.
Bitcoin Futures To Have Their Best Month Ever
In a recent Tweet, CNBC Futures Now informed that Bitcoin futures are expected to have their best month since they were created.
CALLING ALL BITCOIN BULLS: Bitcoin futures are on track for their best month since they were created in 2017 pic.twitter.com/ipVI1DIsqy
— CNBC Futures Now (@CNBCFuturesNow) May 24, 2019
It is possible to see that the monthly trading volume of the CME Bitcoin futures has surpassed $6.6 billion. Back in March, Bitcoin futures were only moving $1.2 billion. This rapid growth is related to different factors, including the fact that Bitcoin accelerated its growth path towards a new bull market.
Just in the last two months, Bitcoin grew more than 100%. Now, the digital currency is being traded close to $8,000. As the price of Bitcoin expanded, institutions became also interested in it and in the potential growth that this digital asset has for the future.
These Bitcoin futures are very positive for the market because they allow investors to purchase the digital asset at a specific price at a specific time and increase the stability of the crypto space. The first institution offering Bitcoin futures trading was the Chicago Board Options Exchange (CBOE) that decided to drop its services due to falling volumes.
Back in December 2017, Bitcoin reached an all-time high of $20,000 but the price of the digital asset fell down to $3,200 a year later. At the time of writing this article, Bitcoin is being traded around $8,050 and it has a market capitalization of $142 billion.