August Futures Ending, Big Boost For Crypto?
Aug 31, 2018 · 2 min read
The CBOE and CME futures on the NYSE come to a close Friday 4pm London time. Will this mean a spike in price for Bitcoin and other Cryptocurrencies? To answer this question let’s take a look at the chart on the date of the last futures expiration, July 27th. According to the chart (fig.2) there was a $400 USD spike at 8:00 UTC-7. Unfortunately, bad news from the denied Winklevoss ETF (COIN) rallied a dump, returning us from over $8,000 per BTC to $7,000 and causing massive short squeezes (fig.3). However, this august futures expiring marks a monumental shift in crypto paradigm…
