Goldman Sachs plans to give some customers the opportunity to trade the battlefield futures when they become a reality. Goldman, one of the largest companies helping clients buy and sell futures, will act as an agent and will not serve as a market maker. Currently, Citi and Bank Of America's competitors say they will not offer futures for trading immediately, but they will certainly benefit from it in the future.
Battle Futures will be released for trading on CBOE on December 10, and CME will start trading on December 18th.
What does it mean for Bitcoin?
Definitely, futures trading will have a positive impact on the cryptocurrency, but what we need to know is that the launch is already being traded by investors, and we're likely to see a temporary drop. In the future, we expect the upward movement to be maintained, with any adjustment giving us appropriate entry levels with long positions.
Where is it appropriate to position?
If we follow the cycles that Bitcoin price tends to make, a 50% adjustment of the last upward will give us a very good position for Long positioning. Here's where we can position if the price adjusts from current levels:
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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