Crypto Trading Is A "Trend We Can't Ignore", Says ICE Chief

  • ICE, the owner of the New York Stock Exchange, didn't discount adding cryptocurrency futures
  • It's chief executive noted that “people are more comfortable in technology than the institutions of government and society that I grew up with."

Intercontinental Exchange’s CEO, the owner of the New York Stock Exchange, recently revealed that cryptocurrency trading is, in his mind, a trend that can’t be ignored and didn’t rule out adding cryptocurrency futures contracts to his exchanges.

When asked about possibility of the New York Stock Exchange adding digital currency futures contracts, ICE’s chief executive Jeffrey Sprecher told Bloomberg TV that "there is a trend here we can’t ignore in my mind, so I don’t discount it". Sprecher cited people's lack of trust in the government as the reason for the success of alternative payment methods like Bitcoin, saying:

“People put more faith in a guy named Satoshi Nakamoto that no one has ever met than they do in the U.S. Fed”.

Jeffrey Sprecher

Bitcoin's mysterious creator Satoshi Nakamoto has remained anonymous, and nobody even knows if Nakamoto is an individual developer or a group of people.

While neither confirming or denying the possibility of cryptocurrency futures, Sprecher acknowledged that cryptocurrencies like Bitcoin are only rising in popularity, despite their murky origins, which could be a big step in the fusion of cryptocurrency and traditional finance. The chief executive may perhaps be influenced by the trend amongst smaller traditional exchanges to list cryptocurrencies, in an effort to reach a wider market and capitalize on the growing trend.

Cboe Global Markets Inc became the first exchange in the world to lists bitcoin futures on last December. The Chicago Mercantile Exchange (CME), the largest exchange in the world, followed shortly after. 

Nasdaq released a statement in January stating that they were considering listing Bitcoin futures as well. The trend could well have a global knock-on effect as exchanges seek to stay competitive, an adoptive ripple effect that could further bridge the gap between cryptocurrency and the traditional finance market.

Bitcoin’s Price Should Now Be Over $100,000, According to John McAfee's 2020 Prediction

Francisco Memoria

The price of bitcoin should now be of over $100,000 to follow the price prediction of eccentric cybersecurity expert John McAfee, which claimed it would be at $1 million by the end of 2020.

According to a website tracking the performance of the flagship cryptocurrency against McAfee’s prediction, BTC is currently down by 90% against where it should be to follow the price prediction.

Currently, one bitcoin is changing hands for around $10,150, but according to McAfee’s prediction it should be at around $102,500.

A graph of BTC's price vs. McAfee's predictionSource: Bitcoin Price Prediction Tracker

McAfee’s prediction was made back in 2017 when the cryptocurrency was trading at little over $2,200. The website adds BTC had to steadily grow at a rate of 0.484% a day to get to $1 million. The initial prediction foresaw a $500,000 bitcoin by the end of 2020, but McAfee revised it as his initial modes “predicted $5,000 at the end of 2017.”

BTC got a high of nearly $20,000 before the end of 2017, but soon started dropping. Over 2018 it went down to a $3,200 low before recovering in what has become known as the “crypto winter.” McAfee has been standing by his $1 million price prediction as time goes on, despite the 2018 bear market.