Bitcoin analysis for 06/12/2018

According to reports the British newspapers, the second largest stock exchange in the world, the Nasdaq confirmed plans to launch Bitcoin futures - this will be done in the first half of 2019.

Yesterday's confirmation of Joseph Christinat, vice president of the Nasdaq media team, explained that the launch of this requires the approval of the US Commodity Futures Trading Commission (CFTC): "Has gone into it enough work [the issue of regulatory approval], to create a scientific work [...] we do it and it happens "- she said. Moreover, he admitted, that the exchange giant looks at the stock exchange cryptocurrency for years, and that has worked Bitcoinowym futures contract for most of 2018: "We have allocated a lot of money and energy to provide this opportunity. [...] we have been ready for it for a long time - long before the market has fallen into chaos, and it will not affect time in any way. No and a dot. We do it no matter what " - he added.

Chrisinat did not confirm whether bitcoin Nasdaq futures will be secured in cash or physically settled (ie. the reimbursements paid to the BTC, not fiat money). While Bitcoin futures market cash appeared on the market by CBOE and CME Group in December 2017, the first physically delivered contracts to be launched in January 2019 on Bakkt Exchange, a platform for the digital assets created by the operator of the New York Stock Exchange, Intercontinental Exchange (ICE).

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has made another lower low in the move down to the level of $3,592 and then bounced slightly towards the level of $3,775. The short-term trend is still down as the price is trading below the dashed black trend line. The nearest important technical resistance is seen at the level of $3,994. The key technical support is seen at the level of $3,440.


The material has been provided by InstaForex Company -