Today the CBOE will launch it's Bitcoin Futures product at 6pm (ET), allowing large investors to make both long and short trades on Bitcoin, without the need to physically own Bitcoin. This is a highly anticipated move that will provide exposure to major institutional investors who want a level of exposure to Bitcoin, but don't feel comfortable with the current level of custodianship available with traditional Bitcoin investments.
Considering the launch of the Bitcoin futures tonight, do you think the price will go up or down? I'd love to hear your thoughts about whether the bulls or bears might win in this battle on the futures market!
For me personally, I expect there to be significant interest in shorting the Bitcoin futures by the "big guys" on Wall Street. There's quite a bit of doubt and negativity around Bitcoin from some of the significant names in the traditional finance world, and they will now have the chance to bet the price of Bitcoin down with a cash-settled product.
If you're looking for more info on the CBOE Futures, here's the Bitcoin Futures PDF