2018-6-18 15:10 |
LONDON – A Wall Street analyst
known for his bullish stance on bitcoin has flagged the
possibility that bitcoin futures contracts could be hurting the
cryptocurrencies price.
CME Group and CBOE both launched bitcoin futures products in
December when bitcoin was trading close to record highs around
$20,000.
Bloomberg reports that Lee wrote that traders who are long
bitcoin and short futures could sell bitcoin during the price
auction to cause the price to drop and leave their futures
contracts “with a handsome profit.”
The Commodity Futures Trading Commission, which has oversight of
bitcoin futures, is
said to be involved in a US Justice Department probe into market
manipulation of bitcoin.
Coinfloor, a UK-based bitcoin exchange operator,
announced plans for a physically settled bitcoin futures contract
in March.