Are bitcoin futures the start of a new era in cryptocurrencies? What lies ahead for bitcoin now?
One week ago, when Mercury began its retrograde motion on December 3, it made its station in precise alignment with the Moon/Pluto conjunction in the 2008 horoscope for Satoshi Nakamoto’s original bitcoin proposal.
This remarkable activation of the “power to the people” point in the bitcoin inception chart, with the added energy of the SuperMoon Full Moon (along with potent Mars/Mercury and Pluto/Jupiter activations at the same time), was apparently enough to trigger a historic run-up in the value of the cryptocurrency, which was already in the midst of a speculative frenzy.
Bitcoin had been trading at about $800 a year ago, but by early October it had hit $5,000. After a surge above $10,000 near the end of November it was trading at about $9,650 as Mercury began its retrograde motion. And its big run-up wasn’t over yet.
Was It Really A Bitcoin Crash?
By Friday, December 8, the price of bitcoin had climbed to an astonishing level of more than $18,600, but before the end of the day a sudden sell-off sent the price downward by more than $3,000.
(The mainstream media immediately called it a “bitcoin crash” in spite of the fact that the cryptocurrency was still up more than 60% since the start of the week.)
In spite of the conflicting opinions about bitcoin and its true value and ultimate viability, and in spite of many questions that remain unanswered at this point, it’s already clear that the cryptocurrency is destined to have a global impact that can change the nature of trading and speculation in some fundamental ways.
Bitcoin Futures Have Arrived
The big news for bitcoin, however, is the fact that futures trading in the cryptocurrency is now getting underway. Bitcoin futures contracts actually began trading as scheduled on the Cboe Global Markets exchange starting at 5:00 p.m. CST earlier today, on Sunday, December 10. Bitcoin futures will also begin trading on CME on December 17. The CME Bitcoin Futures Contract will use the ticker BTC and will equal five bitcoins.
The Cboe Bitcoin Futures Contract is using the ticker symbol XBT and is equal to one bitcoin. The January contract opened at $15,460 and immediately surged higher, hitting $17,170 during Asian trading hours. Both Cboe’s and CME’s bitcoin futures contracts will be settled in U.S. dollars.
The First-Trade horoscope for the XBT contract is truly remarkable. Set for Chicago, the home of Cboe Global Markets, Inc., the Ascendant conjoins the cardinal axis at 0 degrees Cancer. As shown on the 90-degree dial, this powerful alignment activates midpoints that hint at the profound impact of the cryptocurrency:
Sun/Kronos – The power of the state; The president, the king, the boss, or the prosecuting attourney. Independence and superiority. Venus/Pluto – Harmonious development; new hope for the entire world.
Uranus/Midheaven – General tension and excitement; to give something that vibrates throughout the world. Jupiter/Node – Fortunate unions and positive relationships. Poseidon/Node – Global mental connections and spiritual unions.
In short, the future of bitcoin has a lot to offer, and bitcoin futures trading will expand its potential!