How will the expiration of contracts affect the cryptocurrency market?
For some, February 14 is just another senseless holiday, and someone is watching that tomorrow CBOE futures contracts for Bitcoin are completed.
The question of whether this will affect the exchange rate of Bitcoin and then the entire cryptocurrency market is due to the fact that previous futures repayments led to a decrease in quotations and accompanied by a decrease in the price of Bitcoin.
Futures on the CBOE Bitcoin closed at a stable stock market
Futures contracts at the Chicago Board options exchange launched December 11. The cost of Bitcoin during the launch increased by 8% to about $ 15700.
On January 18, when the first Bitcoin futures expired, the price of the cryptocurrency was about $ 11,000.
The closing of the futures of another exchange, CME, also took place against the backdrop of a decline in the price of Bitcoin.
In the cryptocurrency market, there is now a slight cooling, the prices of almost all cryptocurrencies are declining, but not much. So we can say that the crypto market is stable. Perhaps we are waiting for the acceleration of the price drop after the closure of CBOE futures contracts on Bitcoin.
And if that happens, then it will not be the first time and it is possible to speak about the impact of futures on the stock market. Or Vice versa.