The digital asset could not stick above the 50-day SMA for a long time.
Bitcoin heads north
On Thursday, Bitcoin along with other key crypto assets all managed to ascend in Asia following news that Nasdaq is braced for introducing Bitcoin futures in the first quarter of 2019.
As a matter of fact, Bitcoin managed to inch up by up to 6.55% being worth $4,187.5 on the Investing.com index. Additionally, Ethereum surged by about 4.49% trading at $118.77, while XRP soared by about 2.48% ending up with $0.37633 on the Poloniex exchange.
The most popular crypto asset managed to regain a bit of momentum after a second dive this week. The most traded crypto assets sank below $3,800 in mid-week before rebounding to this week’s maximum at $4,395 on early Thursday morning.
However, Bitcoin is still trading about 30% less of its market value since mid-November, when the number one crypto asset slipped from $6,500.
On Thursday, media informed that Nasdaq is geared up towards launching bitcoin futures in the first quarter of next year notwithstanding the current bearish market sentiment for digital coins.
Bitcoin futures are going to provide market participants with a centralized marketplace where traders could speculate on the future price moves of the most popular crypto asset.
Nasdaq has reportedly been collaborating with the Commodities Futures Trading Commission for the purpose of securing regulatory approval for its upcoming Bitcoin futures launch along with investment management company VanEck.
VanEck's director of digital asset strategy, Gabor Gurbacs told that the company ran a few additional miles cooperating with the CFTC just to bring about fresh standards for surveillance and custody.
Nasdaq doesn’t appear to be the first one to jump with both feet into the crypto world. The CFTC has already had two crypto futures projects approaved. One of them belongs to the Chicago Board Options Exchange, while another has to do with the Chicago Mercantile Exchange.
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Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.