(+) Bitcoin’s Future


Have you ever thought about a futures market for bitcoin. It seems the CME Group has.

The idea is the same as the futures for any commodity really. Just as a gold miner or a farmer has a relatively fixed cost but unknown yield, bitcoin miners have the same type of deal. They know how much they’re about to spend, but have less of a clue as to how many coins they will produce or how much those coins will be worth in the future.

If the patent passes regulation, this new Bitcoin Future will allow miners to lock in current prices before starting on their venture. Pretty neat huh?

Thanks to @Jaynemesis for posting this on eToro.

Meanwhile, the overall market cap of all cryptocurrencies has maintained above $29 Billion for the past few days despite some trouble in the industry that we’ll describe below.

Today’s Highlights

Stocks continue declines

Bitcoin breakout may be imminent

Carney & Mnuchin Tonight

Please note: All data, figures & graphs are valid as of April 20th. All trading carries risk. Only risk capital you’re prepared to lose.

Market Overview

Markets are still trying to process the shock delivered by Theresa May on Tuesday. This week was supposed to be all about France but now we’ve had another huge event thrown into the mix. After gaining overwhelming parliamentary approval yesterday, the UK will be going to the polls on June 8th.

Let’s be clear, this is not designed to be an election, more of a power grab ahead of the negotiations with Europe. However, as we outlined yesterday, it’s a national election and anything can happen. And, as we’ve seen twice recently, just because polls indicate one thing doesn’t mean that that will be the outcome.

The French elections are still very relevant and are taking place this Sunday. If you haven’t seen it yet, please review the video that we made outlining the potential moves in the market.

Watch the Video ->

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