If you are thinking about investing, the first thing that must come to your mind is Wall Street. The term has become a metonym for the financial markets of the United States as a whole, the American financial services industry (even if financial firms are not physically located there), or New York-based financial interests and also most commonly know financial exchange.
Chief of the stock exchange on Wall St., Adena Friedman has recently said that Nasdaq was ‘investigating the idea of a cryptocurrency futures.’
“We continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there’s proper demand, and that the contract is different from what’s already out there,” she said.
However, before approaching the U.S. Commodity Futures Trading Commission (CFTC), Nasdaq will first need to determine whether there is a client demand for it and if they feel confident enough to go ahead.
In recent weeks the digital currency market has seen prices plummet, the most obvious of them all being bitcoin. Last month, the cryptocurrency was within touching distance of $20,000 for the first time. However, at the time of publishing it is trading at $11,247, according to CoinMarketCap. A major selloff and increased global regulatory pressure has seen market prices affected.
Despite this, though, many industry players still have faith in where the value of bitcoin is going.
According to Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, he has predicted that the price of the digital currency will exceed $100,000 by the end of 2018. Chapman previously projected that bitcoin would past the $10,000 mark before the end of 2017.
Back in December he said:
“I think a lot of people thought I was crazy, a lot of people scoffed at me, but that’s OK.”
Cryptocurrencies are taking over the world, and it seems like it’s only the beginning.