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Futures Down, Asia Faces Longest Losing Streak Since 2015, Bitcoin Shoots Past $12,000

Futures are sagging, with the Dow down 53, the Nasdaq down 26, and S&P off by 4 points following two days of selling.

Meahwhile Asia isn’t doing so hot. Via Bloomberg: 

Asian stocks are poised for the longest losing streak in two years as the technology, mining, consumer and industrial sectors led declines. Japan equities fell sharply, as did Hong Kong’s Hang Seng Index. The Australian dollar and bond yields tumbled as traders dialed back expectations for higher interest rates after growth missed estimates.

The MSCI Asia Pacific Index is set to fall for eight days, making it the longest run of losses since 2015. American shares fell, with an afternoon swoon wiping out early gains for a second straight day, as investors assessed the impact of proposed tax cuts. Ten-year Treasury yields maintained a slide to 2.34 percent, while the dollar held onto gains. The pound extended declines amid stalled Brexit negotiations, and the yen jumped.

“The adjustment mode is deepening lately in the Japanese stock market,” said Shunichi Otsuka, general manager in the research department at Ichiyoshi Securities in Tokyo. “It’s difficult to buy unless U.S. equities show firmness, even as some high-tech shares are becoming cheap.”

Bitcoin, on the other hand, is gaining retarded air again – breaking through $12,000 and ripping faces off ahead of speculation that widespread use of the upcoming CBOE and CME futures will help digital currencies gain more legitimacy as an asset class.

Bloomberg reports:
Cboe Global Markets Inc. has said it will start trading bitcoin futures on Dec. 10, while CME Group Inc.’s contracts are set to debut on Dec. 18. Nasdaq Inc. is planning to offer futures in 2018, according to a person familiar with the matter. Cantor Fitzgerald LP’s Cantor Exchange is creating a bitcoin derivative, and startup LedgerX already offers options.
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  1. lapens

    Don’t mention Bitcoin, Fly will get mad.

    Why does no-one ever talk about the altcoins around here?

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  2. duuude



    Three clear factors are contributing to the monero price rally. The first is that, on an episode of Real News with David Knight, cybersecurity pioneer John McAfee praised monero as an alternative to bitcoin. McAfee, who recently promised to eat his d**k on national television if the bitcoin price did not reach $1 million by 2020, predicted that if bitcoin did have a serious competitor, it was monero.

    Also Bitcoin futures may create a Monero hedge

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  3. metalleg

    You want alt coins, I’ve got alt coins…lol


    and when it comes to competitors to BTC, don’t sleep on BCH.

    EOS has been, by far, my biggest winner.

    I don’t own any IOTA but have you looked at the chart?

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  4. masteroneass

    Lets talk about mining equipment antminer s7. As for altcoins theyre all the same besides ethereum. The vertical move in bitcoin is really something. Its actually in its 5th elliot wave. The crash should be significant when it happens.

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