Bitcoin in Chicago

Nevertheless, the foreign currency rates today Bitcoin is $7,959.1 USD. so, I still think that even if the Lightning Network turns out to be a viable solution to the scaling issue, it will need time to prove its worth; specifically, that it can handle bitcoin transactions without any problems. Because of this, I don’t think that bitcoin’s price will immediately go up whenever a solution to the scaling problem appears.

Taking all the above into consideration, I’m going to stick to my position that if you’re thinking of buying bitcoin now, you should only do so if you plan to HODL for a very long time (at least 2-3 years) and you won’t start panicking if the current price undergoes a correction of 30-50%. If a correction does happen, I think the optimum price at which to buy bitcoin is somewhere within the range 5,000 – 7,500 USD.

The digital currency debuted in Chicago last night. This means it would be way easier for institutional investors to embrace bitcoin. It was a widely watched event, and the company’s website even collapsed for a couple hours. CBOE Holdings, the star of the night, was overwhelmed and inaccessible for some time.

Even though traffic to the CBOE website was extremely heavy, the company said its trading systems were working properly. The trading so far shows that futures traders expect bitcoin’s wild rally to continue.

CBOE’s bitcoin futures launch is the start of a process that will bring bitcoin into the financial mainstream, but it will take time to know this idea works or not. And the exchange will soon have to compete with a rival contract from CME Group.