In absence of any significant fundamentals, the price has formed a peak at the $4000 (along with the Bearish Trend Line) and retained downwards tendency, aiming for the recent low $3700. A breakthrough of the $3700 level will send BTCUSD testing the $3500 bottom. To consider any reversal/bullish patterns we need to see the price at least climbing above $4000 and holding there. For now, review stays bearish.
Trading Bounds: $3700 – $4000. Breakthrough below $3700 will send the price to the $3500.
? Nasdaq confirmed the launch of bitcoin futures in the first half of 2019
The second largest stock exchange in the world, Nasdaq, will launch bitcoin futures in the first half of 2019. This information was confirmed by the British edition of The Daily Express, vice president of communications for Nasdaq, Joseph Christinat.
“Bitcoin Futures will be listed and it should launch in the first half of next year – we’re just waiting for the go-ahead from the CFTC but there’s been enough work put into this to make that academic. We’ve seen plenty of speculation and rumors about what we might be doing, but no one has thought to come to us and ask if we can confirm it, so, here you go – we’re doing this, and it’s happening.”
He also added that the current decline in the cryptocurrency market will not be an obstacle for the Nasdaq.
“We got into the blockchain game five years ago, and when the technology first popped up we just leaned out of the window and shouted ‘hey come over here’ right at it.
We’ve put a hell of a lot of money and energy into delivering the ability to do this and we’ve been all over it for a long time – way before the market went into turmoil, and that will not affect the timing of this in any way. No. Period. We’re doing this no matter what.”
Earlier Bloomberg reported that Nasdaq is going to launch bitcoin futures on November 27, with reference to “information sources”. Then the first quarter of 2019 was indicated as the estimated launch date of the product.
The very next day during the Consensus Invest conference it became known that Nasdaq entered into a partnership with investment firm VanEck to launch new financial products. Called “bitcoin futures 2.0”, these products, as stated by VanEck’s digital asset strategy director Gabor Gurbach, will be futures-type regulated contracts.
It is expected that they will use the SMARTS control system developed by Nasdaq, and the price will be based on the MVIS index developed by VanEck.