RE: How Bitcoin Futures Will Affect Price
While institutional investors ARE likely to have a tepid response due to loss aversion behavior, the common man is just beginning to wake up to growth opportunities in BTC. Expect steady rises in value that outperform expectations as lightening networks get implemented and brokers/executives begin receiving a portion of their bonuses in BTC. Once Paypal enables BTC transfer, it is game over for the USD. The net result is that you will be able to buy commodities like gas and groceries in BTC.
Yes, institutional investors will be late to the game but grassroots support will continue to drive demand. Once these futures markets mature, waves of value growth should occur.
I would expect a few manipulated crashes from those in Goldman Sachs and the compromised Bitcoin Foundation. The common people who still don't understand BTC will sell, but support by people like us and the institutional investors will create even more swift rebounds than we have now.
Your prediction was dead on.
Tepid price action on opening
https://steemit.com/btc/@davebrewer/xbtc-trading-opens-at-cboe-big-shorts-nope-slight-up-tick-in-btc-price-in-the-initial-futures-contracts
Thanks. Mark the date that the first public report on activity gets released. That is the day institutional investors will have some data to work with and if it is good, they will finally start to drive prices higher.