Bitcoin Global News (BGN)
June 21, 2018 -- ADVFN Crypto NewsWire -- It’s not
just Bitcoin Futures any more.
Beyond Ethereum and Ripple futures contractsas well
as others, another well-known cryptocurrency will soon be hitting
the derivatives market.
On Friday, Litecoin futures are
going live on the trading platform called Crypto Facilities, which is based in the United
Kingdom.
Once this service is live,
investors will be able to choose long or short positions on a
variety of futures contracts that are all based on
Litecoin.
Apparently, their options will
include weekly, monthly and quarterly finish lines, so at this
point, yearly and beyond have been ruled out.
With the claim that Bitcoin futures
contracts majorly affected and may have even
engineered its rapid rise and subsequent fall by the
beginning of this year, it is reasonable to wonder: what effect
will these contracts have on the current price of
Litecoin?
Charlie Lee, the famous creator of
Litecoin, seems to think that once these contracts launch, Litecoin
will have a considerable amount more of liquidity and therefore,
investors will find it much more easy to buy and sell it, at
will.
If this is in fact, true, then it
could imply that Litecoin’s price will rise based on futures
contract-based speculation. If this occurs, then it will most
likely only be a matter of time before it falls again to reflect
its actual, current value.
The CEO of Crypto Facilities, Timo
Schlaefer, reportedly said that the
company chose to introduce Litecoin futures contracts due to a
strong call for them from customers.
Furthermore, he was quoted as
saying that said contracts will not just increase Litecoin’s
liquidity, but the liquidity of the overall market,
considerably.
Whatever the total effect turns out
to be, keeping one’s eye on Litecoin’s price movement on Friday
would be wise. In the first few hours, we should start to see
considerable changes if the past Bitcoin futures contracts are
taken into account for comparison.
By: BGN Editorial Staff
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