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Bitcoin could rise to $100,000 or more before crashing to 0

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Bitcoin could rise to $100,000 or more before crashing to 0  Reply with quote  

Bitcoin futures are set to begin trading Sunday at the CBOE and a week later at the CME, and retail brokerages are bracing.

Interactive Brokers' founder Tom Peterffy said on CNBC's "Fast Money" on Thursday, his concern is that the cryptocurrency could continue to rise to $100,000 or more before crashing to zero, and could pull down small brokerages in the process.

Bitcoin's price has skyrocketed just this week from $12,000 to $19,000 and back down below $16,000. Futures trading is only seen as further legitimizing bitcoin even as some prominent market participants say a dangerous bubble is forming.

"Smaller brokerage firms will go bankrupt," Peterffy warned on Thursday, adding it could "destabilize the clearing houses."

Peterffy has sounded alarms before about the dangers of bitcoin, but his firm is allowing traders access to the futures products as of Monday, at a 50 percent margin requirement. Traders will be able to take long positions only, at $5 a contract, and won't be able to take a short position, or a bet on a decline. The steep price per contract —normally the broker charges 25 cents to 80 cents a contract — is to pay Interactive for the risk, Peterffy said.

"I'm extremely curious, this is an amazing thing," Peterffy told CNBC, adding that he doesn't own any bitcoin. "How silly people are, it is just amazing."

Firms involved in the futures industry have said they are concerned about the swift roll out of the bitcoin futures product. The Futures Industry Association sent a letter to the Commodity Futures Trading Commission on Wednesday raising concerns about the volatility of digital currencies and the risks clearing firms will be shouldering once futures trading begins.

Source: cnbc.comhttps://www.cnbc.com/2017/12/07/interactive-brokers-warns-of-risk-from-bitcoin-futures.html
Post Fri Dec 08, 2017 2:32 am
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Bitcoin is a very speculative investment. Weigh risk vs. return and don't invest more than you can afford to lose.

See Proof. You can make free money online.
Post Fri Dec 08, 2017 11:23 pm
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Thats good
Post Thu Dec 21, 2017 4:12 am
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Gold is $1275/ounce
Post Wed Dec 27, 2017 12:23 pm
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I don't believe that!
Post Sun Feb 04, 2018 12:30 pm
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I am not sure that bitcoin is going to go down. I just started to invest in cryptocurrency as well and prefer to check everything at https://www.crosslytics.com/ to know the right value of each crypto and to know how to change it then.
Post Mon Feb 26, 2018 10:35 am
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Bjavascript:emoticon('Rolling Eyes')itcoin itself a valuable asset these days.. Twisted Evil
Post Mon Feb 26, 2018 11:52 am
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In my opinion  Reply with quote  

In my opinion, we’re seeing a correction on the wider cryptocurrency market due to the correction taking place on bitcoin. Bitcoin is still the flagship currency and trendsetter of the crypto market. I will be attentive to forex market news calendar for more news about this

I reckon that so long as Bitcoin’s scaling issue remains unresolved, there’s no reason that BTC prices should rise significantly and reach the all-time high level of nearly 20,000 USD per coin, which was seen in December last year. I believe that we’ll only see new money and new investors in the crypto market when bitcoin sets a new all-time high. As a result, I think that in the coming months, we’re going to see sluggish, random movements in the price of bitcoin, as so there will be many days like this, during which most cryptocurrencies are trading in the red.
Post Mon Mar 12, 2018 4:22 am
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