Bitcoin Price Rallies After Institutions Show Confidence At Consensus Invest

Bitcoin Price Rallies After Institutions Show Confidence At Consensus Invest

Bitcoin Price Rallies After Institutions Show Confidence At Consensus Invest

According to two people close to the matter, Nasdaq is planning to move ahead with its plan to list Bitcoin futures despite the losses experienced by the cryptocurrency over the previous year, Bloomberg reports. According to one of Bloomberg's sources, the Nasdaq futures will be based off the Bitcoin's price on numerous spot exchanges, as compiled by VanEck Associates Corp. Intercontinental Exchange Inc, the parent company of the New York Stock Exchange (NYSE) last week said that it would launch its own contracts on January 24, Bloomberg notes.

It seems that with the soon to be launched bitcoin futures by ICE, the Nasdaq, the world's second-largest stock exchange, is now also speeding up the process to get in the game.

The enthusiasm from NASDAQ is a good sign that the performance of Bitcoin has not deterred Wall Street from being involved in the crypto market.

Interestingly, Bitcoin's dominance has continued to tick throughout the month from a low of 51 percent to 53 percent, showing Bitcoin's ability to ensure so much to continue attracting cryptocurrency miners and investors.

Nasdaq hopes to have its Bitcoin futures market up and running by Q1 2018 and is working now to meet expectations at the Commodity Futures Trading Commission (CFTC).

In a follow-up tweet, Gurbacs said Nasdaq and VanEck will unveil "transparent, regulated and surveilled digital asset products, such as bitcoin futures contracts". The market was reaching an all-time high when the leading markets including CME Group Inc. and Cboe Global Markets Inc. began hyping their futures launch - and since then Bitcoin which was closer to $20000 has plunged to $4000 a down record.

CryptoGlobe reported on Tuesday that Nasdaq still plans to launch bitcoin futures despite a delay in the release schedule.

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Forget the plunging prices, Wall Street is still thirsty for bitcoin and cryptocurrencies.

"ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval".

Nasdaq is not the only organization, which is planning to launch Bitcoin derivative.

"We believe that 2018 was the year of regulation and 2019 will be the year of implementation", said Gurbacs.

Earlier, Bakkt was to introduce its Bitcoin Futures in the market by year-end. Shortly after, the price of Bitcoin continued to climb and reached a new high of almost $20,000 before plummeting down to the $4,000 levels we're at recently.

Presently, the demands of institutional investors for digital assets can be evaluated considering the numbers that Bakkt, Coinbase Custody, Goldman Sachs, Fidelity Digital Assets, BitGo Custody, and other top over-the-counter markets can offer.

Although the news is great for the crypto market, it has to be seen of the futures can help the bearish market to recover.

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