Will The futures market do to Bitcoin what it did to gold?
By now you have heard the news — Bitcoin futures are launching this December, bringing in a wave of institutional money. Futures add an air of legitimacy the cryptocurrency space — a space many have considered to nothing more than a bubble or passing fad.
But the big question everyone is wondering is : What will futures do to the price of Bitcoin?
(P.S. If you don’t yet know what futures are, check out my other article “The 5 minute guide to Bitcoin Futures”)
The general feeling in the air is one of euphoria — with futures comes a wave of institutional money that should be good for Bitcoin right?
Well, maybe…but let’s back up a bit.
Two Opposing Views of Bitcoin.
There are two main camps in the Bitcoin universe: In my head I call them “The Believers” and “The Skeptics”. The believers see Bitcoin as a revolution that will change the way we interact, not just with money, but with each other and the world.
From the Crypto Anarchist Manifesto:
So too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions…
