Bitcoin Future Trading became speculative Bubble, price surges

The chief market strategist Hussein Sayed said The new bitcoin futures contracts have attracted more than attention than expected. Hussain said the futures contract with virtual currency climbing more than 20% and triggering two trading halts. The Chicago Board Options Exchange experienced unprecedented traffic, it seems professional investors aren’t willing to bet against the bitcoin, despite the many warnings of a bubble that will burst soon. Yesterday the acting governor of Reserve bank of New Zealand Grant Spencer warned and said:

"It looks remarkably like a bubble forming to me. “Over the centuries we’ve seen bubbles, and this appears to be a bit of a classic case. With a bubble, you never know how far it’s going to go before it comes down.”

American business magnate Warren Buffett, (Chief Executive Officer of Berkshire Hathaway) called bitcoin as 'real bubble'. He is not alone to caution the investors against cryptocurrency. Garrick Hileman, a research fellow at the University of Cambridge's Judge Business School, earlier said: "What's happening right now has nothing to do with bitcoin's functionality as a currency - this is pure mania that's taken hold." Despite these cautionary words from financial experts, bitcoin continues to rise.source,theguardian

Welcome to a new dimension: #Bitcoin futures getting off to a solid start in their first trading hours. Up 25% since opening. {XBTA Curncy <Go>} on @TheTerminal. pic.twitter.com/Xby74949t9

— Maxime Sbaihi (@MxSba) December 11, 2017