In order to make bitcoin future price prediction it is necessary to have fresh information about the level of cryptocurrencies legalization in different countries and that in turn will help us to find out whether bitcoin is a good idea.The Chicago Mercantile Exchange (CME) will start trading bitcoin futures on December 18. The permission for it was given by the Commission on Trade in Commodity Futures USA after lengthy negotiations.
Consent for the operations with bitcoins was also received by the Chicago Board Options Exchange and the exchange of binary options Cantor Exchange.
It will create additional demand for cryptocurrency from large investors, which means that large speculators will come to this market, which can give an additional boost to the incredible growth of bitcoin in the price. At the beginning of the year it cost about $ 1000, on December 3 the rate exceeded 11,700 dollars.
Thanks to this rally, the first “bitcoin” billionaires appeared in the world. According to the British Telegraph, they were American twin brothers Tyler and Cameron Winklewoss, who challenged Mark Zuckerberg in court to be considered the founders of Facebook. In 2013, they invested in bitcoins $ 13 million.
The US, along with Canada and Israel, refers to countries with the most friendly regulation to cryptocurrencies. At the number of states, bitcoins are actually considered as money, federal regulators treat them primarily as a commodity. This approach allowed the US authorities to impose licenses and taxes on operations with bitcoins. Now Americans have the opportunity to partly hedge their deals with bitcoins. Nevertheless, futures trading will go with significant restrictions due to the volatility of the cryptocurrency and bitcoin future price prediction can hardly be done precisely.
As expected, in Russia, cryptocurrencies will also be admitted to the stock exchange, but the Ministry of Finance and the Central Bank of the Russian Federation have not even agreed on basic legal definitions, let alone which categories of investors will be allowed to work with these instruments. While it is clear only that the status of money of cryptocurrency in Russia will not be received, they will be considered as a type of securities. So the answer whether is bitcoin a good idea strongly depends on the particular currency regulations in every country.