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    Futures Can Assist In Predicting Bitcoin Prices, Claims Bakkt COO

    Bakkt chief operations officer, Adam White says that the futures market can assist in predicting the price of Bitcoin, reports Cointelegraph.

    In an interview with CNN, White revealed that the freshly introduced Bakkt futures contracts will assist in valuing Bitcoin. According to White, the daily and monthly futures contracts will help in price discovery.

    The new Bakkt futures started trading last weekend where 71 contracts were traded during its debut day. White explained his point:

    “We think this is an important part of the futures contract — to help businesses discover what the fair market value of Bitcoin is going to be through events like this.”

    White stated that futures are also likely to predict alterations in the market due to block rewarding halving by next May.

    The halving of block reward can be described as the drop that occurs after every four years in the reward given to miners after validation of a Bitcoin block transactions. At the moment, the reward stands at 12.5 Bitcoin and is expected to go down to 6.25 Bitcoin by May next year.

    It is expected that following the halving, Bitcoin’s value will dramatically rise. According to Cointelegraph, after the halving in 2016, Bitcoin’s price rose dramatically leading the famous price tag of about $20,000.

    What do you think of White’s predictions? Will Bitcoin futures contract help to forecast the price of Bitcoin? Keep the conversation live in our social media platform.

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    Joseph Kibe
    Joseph Kibe
    Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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