Bitcoin continues to traverse a consolidated range as it test short term support and resistance, which has become prevalent the past two weeks. The NYSE & ICE have said they plan on introducing a Bitcoin contract futures swap.
Bitcoin Recovers from Support and Testing Range
Bitcoin is trading near 9300.00 U.S Dollars this morning. After falling to 8900.00 early this week, the cryptocurrency has recovered rather easily and is once again testing short term highs.Important short term resistance continues be demonstrated around the 9800.00 U.S Dollar level for Bitcoin, while crucial support appears capable near 8800.00.
ICE & NYSE say Bitcoin Platform Trading Coming
The New York Stock Exchange announced yesterday via its parent company, the Intercontinental Exchange – it intends on issuing Future contract swaps for Bitcoin.Importantly, this will allow for the delivery of ‘physical’ Bitcoin upon expiration. The exact details regarding the release and availability of the new platform are not known, but this could be a game changer for the trading of Bitcoin among financial institutions.