Today, the Chicago Mercantile Exchange (CME), gave Bitcoin “legitimacy” as a store of value as it entered the Bitcoin marketplace and will make Bitcoin more reputable and certainly more visible on the world radar.
I do not expect a “waterfall” entry of investors into the Bitcoin futures market but a slow, cautious, and watchful entry. As more traders become more comfortable with this new “digital currency” and its inherent volatility, then the entry pace will pick up.
Will the price of bitcoin continue to climb? Absolutely! Why?
Because more and more mainstream investors – many who are still sitting on the sidelines and taking a “wait-and-see what-the-other-guys-will-do-posture” – will begin trading it simply for “Fear of Missing Out” (FOMO).
Too, more and more BIG names in finance will jump onboard because of FOMO.
No one wants to “miss out,” do they?