BITMEX LAUNCHES BITCOIN VOLATILITY FUTURES CONTRACTS

Bitcoin exchange BitMEX have announced the introduction of a futures contract for Bitcoin, in a much-needed shot in the arm for the cryptocurrency who fortunes have been ebbing lately.
Bitcoin has been disappointing over the past few days. Just when it was announced that it was the worst performing currency in all of 2014, then now comes the news that it has slumped below the psychologically critical $300 mark. We are now talking about $270 support levels, and it would be safe to say that even the most ardent bit-believer must be skipping a heart bit (pun intended) right now, if not on the verge of an outright coronary.
But there is a ray of sunshine in the announcement today by BitMEX, a leading Bitcoin derivatives exchange that they have launched the world’s first 30 day Historical Volatility Futures Contract or BVOL.
It is a product that will allow traders to speculate on the 30-day historical volatility of Bitcoin against the US dollar as observed on Bitfinex. Traders will be able to profit on the increase or decrease of Bitcoin price volatility without taking a position in the exchange rate.

This post was published at Crypto Coins News on January 6, 2015.