{"id":3278,"date":"2017-12-12T00:00:00","date_gmt":"2017-12-12T00:00:00","guid":{"rendered":"https:\/\/crypto-economy.com\/2017\/12\/12\/highlights-of-bitcoin-futures-market-first-hours\/"},"modified":"2017-12-12T00:00:00","modified_gmt":"2017-12-12T00:00:00","slug":"highlights-of-bitcoin-futures-market-first-hours","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/highlights-of-bitcoin-futures-market-first-hours\/","title":{"rendered":"Highlights of Bitcoin futures market first hours"},"content":{"rendered":"

Yesterday, the Chicago Board Options Exchange (CBOE) just launched its brand new Bitcoin futures market at 6:00 p.m. ET. This settled a precedent in Bitcoin\u2019s history<\/a><\/strong>, for it\u2019s the first time a cryptocurrency is subject of bettings from investors in a renowned, regulated exchange, via futures contracts \u2013 although it won\u2019t be the only one, for the CME Group will also launch its own marketplace this December 18 \u2013.<\/span><\/p>\n

With a USD\/BTC exchange rate of $ 15,500 just before it was officially online, it regained $ 1k in value and stabilized at $ 16,500 once people started trading futures, according to CoinMarketCap<\/a><\/strong>. Here are the most relevant events that happened just a few hours after the Go:<\/span><\/p>\n

BTC Futures\u2019 quoting between $ 17,000 and $ 18,850 <\/b><\/span><\/p>\n

According to data collected from MarketWatch<\/a><\/strong>, Bitcoin went off starting from $ 15,000, then quickly began a trend up to higher values, reaching \u2013 for the first time \u2013 the $ 18,000 barrier at 9:05 p.m. CST. Almost 40 minutes after, when quoting at $ 18,400, it stepped back a little, returning to $ 17,400, only to go a bit further and managing to grasp the $ 18,850 barrier at 12:59 a.m. CST. Since then, it has maintained a notable stability around $ 17,800 \u2013 at press time \u2013<\/span><\/p>\n

CBOE\u2019s website crashed due to high traffic volumes, but not affecting its Bitcoin futures trading<\/b><\/span><\/p>\n

Almost immediately, CBOE\u2019s front-end interface crashed after the official launch, supposedly due to many people trying to access at the same time. This caused concern around users, wondering if this would have a negative effect on such launching. <\/span><\/p>\n

However, on its official Twitter account, it was stated that this intermittence had no impact on trading activities. In fact, some people noted that this long-awaited moment has had a smooth start, with futures skyrocketing to as high as $ 18,850.<\/span><\/p>\n

Twitter\u2019s reaction to launching and crashing<\/b><\/span><\/p>\n

Movement around the social network Twitter was considerable, with people commenting on both the beginning of a large-scale event like this, and the front-end page outtake due to high traffic volumes. A first tweet<\/a><\/strong> regarding this situation was submitted by CBOE, where they address the situation, but assuring that all trading systems are operating normally. <\/span><\/p>\n

Of course, this is the Internet, and people were quick to react with some gifs and memes, like one user<\/a><\/strong> suggesting them to turn their system off and back on again, in a clear allusion to rebooting computers and other devices after a glitch had place.<\/span><\/p>\n

\"meme<\/p>\n

But jokes aside, there were others more focused on the trading itself. A Twitter user claimed to be the first one<\/a><\/strong> in the world to trade with Bitcoin futures, at the cost of some funds, though.<\/span><\/p>\n

Throughout the crash, financial editor Holger Zschaepitz noted<\/a><\/strong> that Bitcoin\u2019s price remained relatively stable, regardless of the crashing suffered by CBOE, and even Coinbase.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Yesterday, the Chicago Board Options Exchange (CBOE) just launched its brand new Bitcoin futures market at 6:00 p.m. ET. This settled a precedent in Bitcoin\u2019s history, for it\u2019s the first time a cryptocurrency is subject of bettings from investors in a renowned, regulated exchange, via futures contracts \u2013 although it won\u2019t be the only one, … <\/p>\n

Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":3280,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4607],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/3278"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=3278"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/3278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/3280"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=3278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=3278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=3278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}