The bottom is near: the bearish trend on the futures of Bitcoin gradually weakening

According to a new report, the CFTC, the bears are gradually losing their positions in futures trading for Bitcoin. As of 21 August, the total value of short positions fell to 3426 contracts. Traders added 56 contracts to their long positions. The intricacies of trading on the CME understood Cointelegraph.

Bitcoin began to grow

The overall situation still retains an advantage in the downward course. However, over the past two months have been a serious loss in the ranks of skeptical traders. June 5, the overall advantage in the shorts dropped to 1266 contracts.

The statistics of trading on the CME reviewed by Brian Kelly.

In April, the amount of open positions on the exchange increased by about 85 percent. With such growth by 2019, the futures market for Bitcoin seriously will grow in volume.

Kelly noted that the approval of the ETF on Bitcoin will be held no later than February 2019. Such a conclusion he made based on the rate of development of the derivatives market for free. Besides, now the permanent abolition of the ETF to the SEC already does not scare investors — the exchange rate of Bitcoin almost does not react on such events.

It seems, then, come into play the bulls. Prepared for bullrun? Share your plans in cryptodata of hontarov.

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