San Francisco Fed Says BTC-based Future Markets Played a Role in Price - by Jamie Redman

[Ciaran]

The U.S. Federal Reserve system has been very interested in bitcoin lately and has released a bunch of reports from Federal Reserve leaders and researchers from different offices. This past Monday, the Federal Reserve Bank of San Francisco and a professor from Stanford University published a paper that concludes that bitcoin-based futures markets affected the cryptocurrency’s price patterns since Cboe and CME launched the products.

The peak price coincided with the introduction of bitcoin futures trading on the Chicago Mercantile Exchange. The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence. Rather, it is consistent with trading behavior that typically accompanies the introduction of futures markets for an asset.

Read the full article here: https://news.bitcoin.com/san-francisco- ... -in-price/

[piazza]

interesting info,thx