Bitcoin Showdown CME vs CBOE

By Laura He @lauraliuhe    SCMP

Stephen Innes, head of trading for Asia Pacific at Oanda, said CME’s acceptance seems to have lit a fire under Wall Street.

“Intense media coverage is also supporting the bitcoin rally, which has caused investors’ pervasive apprehension that they’re missing the party, or the underlying fear of losing out of a quick profit. ”

He expected more institutional players to enter the market.

“Having bitcoin on a regulated exchange broadens its legitimacy and credibility as hopefully more of the larger know primary market makers will enter the game.

“While I suspect we’re still ways off of having institutional grade level liquidity, I think provided there is a favourable lift off, bitcoin could surge higher.”

However, “it’s not all a bed of roses.”

“Government agencies will likely clamp down on excessive margin given the hyper-volatility and potential losses non-sophisticated investors may encounter. ”

“This brings me to my biggest fear for retail clients that when the masses identify the trend, it’s usually a sign the market has topped now. Whether or not this holds true in this crazy bitcoin ramp or not only time will tell.”

South China Morning Post

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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