Nasdaq launching bitcoin futures but bitcoin is still bleeding

Bitcoin is down again today but is marginally off the day’s lows (London-time), priced at $3,762.

And probably because it is still crashing lower, it makes the front page of the Financial Times today. “Crisis of faith” screams the somewhat gloating headline in the hard copy version.

The big news today though is from the Nasdaq

Bloomberg reports that it is joining the bitcoin futures. It is planning to launch early next year and is working closely with the Commodity Futures and Trading Commission to iron any concerns it might have. We imagine the CFTC has plenty of concerns, but given that is has already approved the offering from CME and Cboe, the Nasdaq bitcoin futures trading initiative will be approved.

Some green on the board

The only green on the board among the top alts is NEM, which is up 6% at $4.80. Other movers of note include Maker (MKR), 6.$% the better at $326 and DigiByte (DGB) and Zilliqa (ZIL) both more than 10% higher at 0.011 and 0.015, respectively.

Coinmarketcap has now listed Bitcoin Cash SV as Bitcoin SV (BSV) and has ranked it the ninth most valuable coin in market cap terms.

Maybe that’s part of the reason behind the continuing narrowing of the price gap between BSV and Bitcoin Cash (BCH). BCH is currently priced at $176 with BSV not too far behind on $99.

Coinbase invests in Securitize

Securitize, the platform for launching security tokens has received backing from Coinbase, with a $12.5 million Series A investment. Some observers believe that security token offerings could displace ICOs, especially in the US where the regulatory clampdown on token fund-raising is growing.

Tech entrepreneur Vinny Lingham reckons that bitcoin will start under $5,000 for next three to six months.

“I don’t think we’ll break through the support level of $3000 just yet – I think there’s a lot of buying in the short term around that mark – but if we don’t get out of the crypto market bear cycle within the next three to six months, that $3000 level could go.”

About the Author

Gary McFarlane
Gary has been writing about cryptocurrencies since 2013 and currently works as the cryptocurrency analyst at interactive investor, the UK's second-largest online investment platform. Gary contributes for Coin Intelligence News in a personal capacity and none of his commentary should be considered investment advice. Gary is the winner of the ADVFN International Financial Awards 2018 Cryptocurrency Writer of the Year. Contact Gary on twitter at: @gary_mcfarlane

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