In the first edition of CRYPTO TREND, we introduced Crypto Currency (CC) and answered several questions about this new market space. There is a lot of NEWS in this market every day. Here are some highlights that give us an idea of how new and exciting this market space is:
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The world’s largest futures exchange to create a futures contract for Bitcoin
Chicago Mercantile Exchange (CME) President Terry Duffy said: “I think in the second week of December you will see ours [bitcoin futures] contract for listing. You can’t short Bitcoin today, so it can only go one way. You either buy it or sell it to someone else. So you create a two-way market, I think it’s always much more efficient.”
CME plans to launch bitcoin futures by the end of the year pending regulatory review. If successful, this will allow investors to go “long” or “short” Bitcoin. Some sellers of exchange-traded funds have also applied for bitcoin ETFs that track bitcoin futures.
These developments enable people to invest in the cryptocurrency space without directly owning CC or using CC exchange services. Bitcoin futures can make the digital asset more useful by allowing users and brokers to hedge their foreign exchange exposure. That could increase adoption of the cryptocurrency by merchants who want to accept bitcoin payments but are wary of its volatile value. Institutional investors are also used to trading regulated futures, which do not suffer from money laundering concerns.
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CME’s move also suggests that bitcoin has become too big to ignore, as the exchange appeared to be excluding crypto futures not too long ago. Bitcoin is all the talk at brokerages and trading firms that have been hurt by bullish but unusually calm markets. If the futures on the exchange go up, it will be almost impossible for any other exchange like CME to catch up because scale and liquidity are important in derivatives markets.
“You can’t ignore the fact that this is increasingly becoming a story that’s not going to go away,” Duffy told CNBC. There are “major companies” that want to use bitcoin, and there is “huge pent-up demand” from customers, he said. Duffy also believes that bringing institutional traders into the market could make Bitcoin less volatile.
A Japanese village will use cryptocurrency to raise capital for urban revitalization
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The Japanese village of Nishiwakura is exploring the idea of holding an Initial Coin Offering (ICO) to raise capital to revitalize the municipality. This is a very new approach and they can ask for national government support or seek private investment. Several ICOs have had serious problems, and many investors are skeptical that any new token will have value, especially if the ICO turns out to be another joke or scam. Bitcoin was certainly no joke.
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INITIAL COIN OFFERING – (ICO)
We didn’t mention ICO in the first edition of Crypto Trend, so let’s mention it now. Unlike an initial public offering (IPO), where a company has an actual product or service to sell and wants you to buy shares in their company, an ICO can be held by anyone who wants to initiate a new Blockchain project with the intention of creating. a new mark on their chain. ICOs are not regulated and some are complete scams. A legitimate ICO can, however, raise a lot of cash to fund a new Blockchain project and network. It’s typical for an ICO to create a high token price near the beginning and then soon come back down. Since an ICO is relatively easy to hold if you know the technology and have a few dollars, there have been a lot of them and today we have about 800 tokens. All these tokens have a name, they are all crypto currency and except for very popular tokens like Bitcoin, Ethereum and Litecoin, they are called alt-coins. At this time, Crypto Trend does not recommend participating in the ICO because the risks are too high.
As we said in issue 1, this market is the “wild west” right now, and we advise caution. Some investors and early adopters have made big profits in this market space; however, there are many who have lost much, or all. Governments discuss regulations because they want to know about every transaction in order to tax everyone. They are all in huge debt and strapped for cash.
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Until now, the cryptocurrency market has avoided the financial problems and pitfalls of many state-owned and traditional banks, and Blockchain technology has the potential to solve many other problems.
A great feature of Bitcoin is that the originators have chosen a limited number of coins that can ever be created, 21 million, thus ensuring that this crypto coin can never be blown. Governments can print as much money (fiat currency) as they want and inflate their currency to death.
Future articles will delve into specific recommendations, however, make no mistake, early investments in this area will only be for your most speculative capital, money you can afford to lose.
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CRYPTO TREND will be your guide if and when you are ready to invest in this market space.
Stay with us!