Bitcoin Futures Are Failing So Far

TFMKTS

I write here on why I view Bitcoin futures as having failed so far.

Bitcoin Futures Failing to Deliver

I am happy to discuss but three weeks since their launch they aren't delivering volumes. If anything, Bitcoin volatility has increased since their introduction (which is hard to believe given how volatile Bitcoin already was).

The trading on December 22nd would concern me if I was long Bitcoin.

There are a lot of real issues facing Bitcoin that I will explore in the coming days (whether Bitcoin is truly scale-able is a key focus).

I am not sure that the performance of Bitcoin futures bodes well for the myriad of Bitcoin ETFs in the pipeline to be launched (I believe there are more than 20 Bitcoin ETF and ETN applications already filed). I have already expressed concern that most (if not all) are linked to Bitcoin futures rather than 'physical' Bitcoin (to the extent something purely digital can be described as being physical).

I also think the recent 'chasing' of other cryptocurrencies - where the main appeal seems to be a lower price (i.e. you can own more of the cheaper 'coins') is dangerous and exhibiting bubble top type of behavior.

I look forward to addressing any questions or comments - Bitcoin is a learning experience for investors of all types!