Fundamental drivers of the cryptocurrency market

Fidelity Investments is targeting a March 2019 launch date for its Bitcoin custody service as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.

https://www.bloomberg.com/news/artic...ustody-service

The first cryptocurrency created by a major U.S. bank is here — and it's from J.P. Morgan Chase.

The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will happen over something called "JPM Coin," the digital token created by engineers at the New York-based bank to instantly settle payments between clients.

https://www.jpmorgan.com/global/news...-coin-payments

Every day companies are starting to create their own crypto and I think that this is the future of the market which will soon be regulated. TMR thanks for information.

Here you can check all information related with BTC FUTURES

CME EQUITY INDEX BITCOIN FUTURES BTC

start period 03/2019 end period 06/2019

https://www.cmegroup.com/trading/equ...nce_bonds.html

You can also check trade volume as well.

https://www.cmegroup.com/trading/equ...html#tradeDate

When Bakkt? Bitcoin Futures Market’s Approval Appears Stuck in Limbo

https://www.coindesk.com/bakkts-bitc...gulatory-limbo

KPMG Report on the Institutionalization of Cryptoassets

https://assets.kpmg/content/dam/kpmg...yptoassets.pdf

CME April Bitcoin Futures Expire today April 26, 2019 at 4pm London Time.


Source: https://www.cmegroup.com/trading/equ...r_futures.html

Fidelity survey of 400 US institutional investors: - 22% already have exposure to digital assets - 47% view digital assets as having a place in their portfolios. (Of those, 72% likes beta funds, 57% would buy directly, and 57% would also go for digital asset VC/equity funds.)

https://twitter.com/SatoshiLite/stat...91824081793024

Target now July 2019. I’ll believe it when I see it.

https://www.coindesk.com/bakkt-sets-...itcoin-futures

Once again CME Bitcoin futures reached an all-time record high of 33.7K contracts on May 13. That's around 50% higher than the previous record set on April 4.

https://twitter.com/CMEGroup/status/...092098562?s=20

The recent 24 hour trading volume on BTC, dwarfs that of the 2017 bull run, with a new all-time high being set consecutively for two days. Most recently BTC 24-hour trading volume surge past $34 billion according to Coinmarketcap.

source: https://coinmarketcap.com/currencies/bitcoin/

[attach]Untitled.jpg;3336415[/attac

In May 2019, CME Bitcoin futures (BTC) volume had its best month since launch, trading nearly 300K contracts. On May 13, BTC traded record single-day volume of 33,677 contracts (168K equivalent bitcoin or $1.3B notional). On May 28, BTC hit record open interest (OI) of 5,190 contracts.

Institutional interest is rising, with 223 trading accounts added in May, the most since January 2018. Participants across all times zones are using BTC to manage bitcoin risk.

May Highlights*

1. Average daily volume (ADV) reached 13,604 contracts, equal to ~$515M notional or 68K equivalent bitcoins, +36% vs. April
2. Average daily OI hit 4,602 contracts, +7.5% vs April
3. Average number of Large Open Interest Holders (LOIH) held steady at 45
4. 2,600+ unique, active accounts have traded since launch

https://twitter.com/CMEGroup/status/...062110721?s=20

https://twitter.com/realDonaldTrump/...584072192?s=20

https://twitter.com/Bakkt/status/115...801310730?s=20

Free advertising! I bet bitcoin google searches spiked after that tweet.

Trump hating on bitcoin means the left will start supporting it!

Fundamental drivers of the crypto market are tough to figure out sometimes. When the market has momentum in either direction, it's usually the pendulum swinging too far in one direction. During the corrections where cryptos pull back over 90%, it's usually fear driven. That's when triggers that cause crypto prices to drop have a bigger impact. On the other side of the spectrum, when the markets are rallying there's what Alan Greenspan would call irrational exuberance. Plenty of it. During those rallies, positive news will impact crypto prices more than they otherwise would.

I can say that for sure crypto drops anytime there's an exchange that gets hacked. Also, when there's news from the SEC on regulation it'll move crypto prices.

The crypto market is still in its early stages. Check this graph. Ten days out of every year are responsible for most of the year's gains.