Update: $BTC is now finally in stage 3 after its initial break out of $4,200. It has now completed the major pattern that’ll help tell the storyline for the next weeks move. It is indeed a , a Hooligan is now in play. A breakout will indicate further bull days ahead while a BD, will show the first move since the break and the first step of the Bull Trap. A decision could be made within the next 3-4 hours. Any side consolidation would still favor the bulls. That’s a 2:1 for the bulls.
At the moment is on its third attempt to breakdown near support levels.
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The famous cryptocurrency exchange platform, Gemini, agreed to sell its bitcoin market data to the Chicago Board Options Exchange, Incorporated (CBOE).
The cryptocurrency exchange, , was founded in 2016 by the famous Winklevoss twins. In October of that same year, the exchange officially received permission from the New York State Department of Financial Services to operate in 31 states. Gemini’s major focus had originally centered around bitcoin trading, however, with the popularity and value of Ethereum rising exponentially, the exchange added Ethereum trading in May of 2016. Currently, the exchange has a daily transaction volume of $52 million.
An Agreement with the CBOE
According to an official , Gemini and the Chicago Board Options Exchange (CBOE) entered into an agreement to exclusively use Gemini’s bitcoin market data. The details of the agreement state that CBOE will have an exclusive global multi-year license to use the exchange’s market data.
The cryptocurrency exchange’s market data will help the CBOE to create bitcoin derivatives products for listing and trading. Currently, the CBOE is awaiting regulatory approval from the , in order to launch its cash-settled bitcoin futures. The report suggests that cash-settled bitcoin futures will be available for trading on the CBOE Futures Exchange in the fourth quarter of 2017 or early 2018.
Ed Tilly, Chairman and Chief Executive Officer of CBOE Holdings, said:
Gemini has demonstrated time and again its foresight and expertise in this area of finance. The team’s focus and determination to grow the bitcoin market and secure appropriate regulatory oversight as a New Yorktrust company makes them ideal for this venture. We are incredibly proud of this agreement and look forward to all that we can achieve together.
Gemini’s Chief Executive Officer of Gemini Tyler Winklevoss also added:
Gemini’s key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors.
bitcoin users believe that bitcoin based futures will enable Wall Street traders and investors to get into the bitcoin ‘game’ without affecting their ordinary portfolios.
What are your thoughts on the agreement between CBOE and Gemini? Do you think that bitcoin futures will succeed? Let us know in the comments below!
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