Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Speculators raised net short bitcoin positions in December 26 week - CFTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/02/2018 | 04:34pm CEST
FILE PHOTO - Broken representation of the Bitcoin virtual currency, placed on a monitor that displays stock graph and binary codes, are seen in this illustration picture

NEW YORK (Reuters) - Speculators raised net short position on bitcoin futures traded on Cboe Global Markets last week amid a selloff sparked by experts' warnings of a bubble, according to data from the Commodity Futures Trading Commission released late Friday.

Net short bitcoin contracts rose to 1,801 in the week that began Dec. 26, from 1,507 short contracts the previous week.

During the last two weeks of December, bitcoin in the spot market slumped nearly 28 percent, but still ended the year up about 1,300 percent.

On Tuesday, bitcoin recovered from recent losses to trade up 3.4 percent at 13,900 on the Bitstamp platform.

Trading in bitcoin has tended to be volatile. In November, it tumbled almost 30 percent in four days from $7,888 to $5,555. In September, it fell 40 percent from $4,979 to $2,972.

ARK Invest, a New York-based asset manager which oversees exchange-traded funds focused on technology, said in a newsletter that investors had displayed "irrational behaviour" with respect to bitcoin, including speculators going on margin to invest in the digital currency.

"Historically, these signs have marked the top, either cyclically or securely, for an asset class," said ARK Invest.

Still, it said the launch of a futures market for bitcoin by CBOE and CME Group Inc last month potentially heralded another era of financial innovation.

It said that if blockchain technology, an open ledger that has underpinned bitcoin, is as fundamental a breakthrough as the internet was when it was first launched, then institutions will start investing significantly alongside retail investors over the next six to nine months.

(Editing by Bernadette Baum)

By Gertrude Chavez-Dreyfuss

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
11:32aFRESH DIRECT UK : National Garlic Day
PU
11:32aTOYOTA GB : Defra replaces 400 diesel cars with british-built toyota auris hybrids
PU
11:27aTrade war could have 'big, negative impact' on Singapore - PM Lee
RE
11:27aFROST & SULLIVAN : Industry Digitalization Initiatives will be the Key to Future Growth of Energy & Environment Markets in 2018, notes Frost & Sullivan
PU
11:27aUNIVERSITY OF WESTERN SYDNEY : The shipping sector is finally on board in the fight against climate change
PU
11:27aNIGERIA : EIB and African Development Bank to support private sector investment with Development Bank of Nigeria backing
PU
11:24aUK retail sales suffer worst quarter in a year after March snow
RE
11:16aNEWS HIGHLIGHTS : Top Global Markets News of the Day
DJ
11:16aNEWS HIGHLIGHTS : Top Company News of the Day
DJ
11:14aCommodities rocket on $100 oil talk, metals stress
RE
Latest news "Economy & Forex"
Advertisement