The markets surrounding Bitcoin may be ripe for growth, as the Chicago Retailer (CME) is now opening up to traders a significantly larger number of open door BTCs than currently allowed.
This change also occurs when the Bitcoin hashtag has simply set a new time and may be emblematic of the fundamental conditions that will eventually allow the BTC to move to new heights.
CME Futures operators will soon be able to double their bitcoin contracts
Currently, CME fitness traders may have a contract of 1000 seats per month, and possible future growth, if approved by the CFTC, will allow traders to hold two positions per month.
Each contract has five BTC values, so if it assumes that growth is allowed, traders will be able to hold positions with a maximum of 10,000 bitcoins.
In its appeal to the CFTC, the CME Group notes that “the highest monthly place limits are effective immediately upon the conclusion of negotiations on Monday, September 30, 2019, month and month after the contract.”
The change indicates that the group believes that there is room for growth in the bitcoin futures market, but its growth is being hampered by the ongoing recession since its collapse in late 2017.
It is important to note that some analysts have found correlations between the introduction of CME Bitcoin futures and the collapse of cryptocurrencies, but it is unknown whether this coincidence or not exists.
Improved BTC fundamentals
The growth of CME Bitcoin Futures is approaching as cryptocurrencies increase their fundamental strength. It crystallizes when its failure rate is met, a meter often seen as a key indicator of the network’s strength, which set a record high yesterday.
According to Blockchain.com, the BTC hashtag rose to 98m tonnes yesterday, up from 98m yesterday, a sharp rise at a low annual rate of just 30m tonnes in December, when cryptocurrency trading fell: $ 3,000 in the region.
Because cryptocurrencies are currently showing significant technical strength, their price is likely to reflect this, which could lead to an influx of new market participants.