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Bitcoin clears $10k on CEX


“Bitcoin finally made it over the $10k mark this morning, on one exchange at least. CEX priced Bitcoin at $10,026 although none of the other major exchanges were quite so elevated.






Indeed the arbitrage potential between exchanges is exceptionally large, indicative of the fact this is an incredibly immature market that is completely decentralised and unregulated, which makes it totally unsuitable for institutional investors. The more Bitcoin comes into the mainstream the more light gets shone on it and this may not be for the good of speculators.

From an investment point of view we are still in the very early stages and the investment community just doesn’t know enough, doesn’t have the depth of data to fairly value Bitcoin. Volatility has been so extreme that the big institutional investors don’t want to take the risk. The massive spread between exchanges is also a problem.

When CEX quoted BTC at $10,026, Kraken had it at $9,748 – a gap of $278 – a near 3% spread. CME’s futures contract might be able to help traders get a clearer picture with a blended price but the arbitrage potential is so large it simply highlights that while speculative buyers think it will keep on rising, Bitcoin has yet to show itself as capable of behaving like a proper asset for investment purposes.”

Neil Wilson
Senior Market Analyst
ETX Capital
etxcapital.com

NOTICE: The leveraged trading products available on our website are not appropriate for everyone. It is possible for losses to exceed your account balance. Do not trade with funds you cannot afford to lose and seek advice if you do not understand the risks.

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