>> By the time you finish watching this story Bitcoin may have rallied by thousands of dollars or plummeted by similar amounts. Such is the nature of its hypervolatility. It briefly soared through the $17,000 mark, on Friday, before dropping back around $15,000. Still up more than 70% for the week, more than tenfold this year.
That leaving traders and investors debating whether it's a bubble that's about to burst. Many big investors have been reluctant to pile into the crypto currency market unless it's regulated. But some analysts say the recent surges are down to the upcoming launch of the first Bitcoin futures market, which could provide long awaited legitimacy.
The CEO of the newly formed London Block Exchange, which aims to launch its sterling to crypto currency exchange, says the stricter trading environment may, indeed, ease fears.>> I think what the future's market brings is a place for hedge funds and institutional money to hedge their positions. So we believe it'll drive stability, certainly, in the markets they choose to list.
>> But if the last three months are to go by, the only thing certain is uncertainty.>> I think we are due a correction and I suspect the correction will happen when the futures markets come online. And so my suggestion is to wait and see what happens. I think that, if you're investing though for the next two years or three years, then the difference between the price now and the price in a week's time may be irrelevant.
Bitcoin futures will launch on Chicago based CBOE futures exchange on Sunday, the worlds largest futures exchange, CME, will offer its Bitcoin offering a week later.