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Bitcoin Futures

Manage bitcoin market volatility with new Bitcoin futures.

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Pricing News

German Authorities Sold $14 Million in Seized Cryptos Over Price Fears

May 29, 2018 at 10:00 | Wolfie Zhao

Prosecutors in Germany have made an emergency sale of cryptocurrencies seized in two investigations due to concerns over price volatility.

Bitcoin Price Faces Last Major Support Level Before $5K

May 29, 2018 at 09:00 | Omkar Godbole

Bitcoin is down again and looks set to test another key support level at $6,900, the technical charts indicate.

Bitcoin Bears In Charge But Indecision Could Spur Rally

May 28, 2018 at 10:25 | Omkar Godbole

While the odds are still stacked in favor of bitcoin's bears, marketplace exhaustion may have provided a chance for a brief rally.

IHS Markit Has A Plan to Tokenize A $1 Trillion Loan Market

May 28, 2018 at 04:00 | Ian Allison

IHS Markit is developing a blockchain-based system to handle cash payments in syndicated loans – and eventually, in a wider range of transactions.

Just One Top Crypto Bucked This Week's Market Downturn

May 25, 2018 at 15:15 | Omkar Godbole

Shadowing the losses in bitcoin, the top-25 cryptocurrencies have all fallen over the last seven days – all bar one, that is.

Bitcoin Faces Close Below Long-Term Support In First Since 2015

May 25, 2018 at 10:00 | Omkar Godbole

If bitcoin closes the week below the 50-week moving average it will increase the likelihood of a sell-off to $6,000

Revolut App Adds XRP, Bitcoin Cash to Crypto Options

May 24, 2018 at 14:35 | Daniel Palmer

Mobile banking app Revolut now lets users buy, sell and hold Ripple's XRP and bitcoin cash, in addition to bitcoin, litecoin and ether.

Bitcoin Faces Drop to $7K as Bull Defense Crumbles

May 24, 2018 at 09:30 | Omkar Godbole

Bitcoin looks set to test $7,000 in the next 24 hours, courtesy of a bear flag breakdown on the technical charts.

Coinbase Is Rebranding Its Crypto Exchange Service

May 23, 2018 at 20:26 | Nikhilesh De

Coinbase announced Wednesday it was rebranding its GDAX platform as Coinbase Pro. Additionally, the company has acquired Paradex, a relay platform.

Bitcoin Price Faces Bear Indicator Not Seen Since 2014

May 23, 2018 at 09:00 | Omkar Godbole

Following bitcoin's recent losses, a key long-term trend indicator is looking increasingly bearish.

Forget bitcoin. Here come the blockchain ETFs.

Bitcoin and other cryptocurrencies are all the rage with investors -- even as their prices have taken some big hits lately.

So it should come as no surprise that there are now two exchange-traded funds, or ETFs, focused on blockchain technology, the digital ledger that keeps records of transactions in virtual currencies.

The Reality Shares Nasdaq NexGen Economy ( BLCN ) and Amplify Transformational Data Sharing ( BLOK ) ETFs both launched this week. ETFs can be bought and sold like stocks, and these two each own shares of the increasing number of companies that use blockchain.

But note that the words bitcoin, cryptocurrency and blockchain are not in the names of these funds.

That's intentional, according to the CEOs of Reality Shares and Amplify ETFs.

Both told CNNMoney that the SEC was worried because some stocks have skyrocketed lately simply because they said that they were using blockchain technology.

Riot Blockchain ( RIOT ) used to be a biotech firm. Long Blockchain ( LBCC ) is the company formerly known as Long Island Iced Tea Co. And Kodak ( KODK ) just launched its own KodakCoin cryptocurrency.

"Investors have been buying blindly, and there has been some abuse," said Christian Magoon, CEO of Amplify ETFs. "The SEC has to protect investors."

But make no mistake. These two funds are set up to take advantage of the growing interest in blockchain.

This is not the Winklevoss Bitcoin Trust, a fund that only owns bitcoin and is run by Cameron and Tyler, of Facebook and "The Social Network" movie fame. The Winklevii want to launch an ETF with the ticker symbol COIN, but the SEC has yet to approve it.

In fact, the SEC seems unlikely to greenlight any funds that just want to invest in cryptocurrencies. Dalia Blass, director of the SEC's Division of Investment Management, wrote in a letter Thursday that it had many questions about these funds.

And she said that until they are addressed, "we do not believe that it is appropriate for fund sponsors to initiate registration of funds that intend to invest substantially in cryptocurrency and related products."

That edict does not apply to the new blockchain funds, though. Those ETFs don't own any bitcoin, ethereum, litecoin, ripple or any of the other numerous cyrptocurrencies out there. Instead, they are buying shares of companies that are embracing blockchain.

Both funds own Overstock ( OSTK ) , the online retailer, which has made a big push into blockchain through its Medici Ventures unit and tZero digital coin exchange.

They also own IBM ( IBM ) , which recently partnered with shipping giant Maersk to track and manage supply chains using blockchain technology. Intel ( INTC ) , whose chips and software are used to encrypt cryptocurrency transactions, is a top holding in both ETFs, too.

Each is betting on financial firms that could benefit from blockchain. The Reality Shares fund owns shares of Nasdaq ( NDAQ ) and Barclays ( BCS ) for example while the Amplify fund has stakes in Citigroup ( C ) and Goldman Sachs ( GS ) .

But there are some key differences between the two ETFs. Reality Shares is based on an index of blockchain-related companies that it recently launched with Nasdaq. That index -- and hence, the fund's holdings -- are rebalanced twice a year.

The Amplify ETF, on the other hand, is actively managed and free to make changes to its holdings more frequently.

Eric Ervin, CEO of Reality Shares, said his firm's ETF is taking a rigorous look at just how much exposure to the blockchain business a company has before adding it to the index and fund.

"We're not going to accept Kodak just because it's suddenly decided to do something with blockchain," Ervin said.

He said the company also doesn't own MoneyGram ( MGI ) in the fund, despite a recent partnership with Ripple, or Jack Dorsey's Square ( SQ ) , which is letting people buy and sell bitcoin on its Cash app.

But Amplify's Magoon said his fund has bought a small stake in Kodak. And Square is a top-10 position in the fund. Still, he's wary of smaller companies trying to ride the blockchain and bitcoin wave. "We don't want scam stocks," he said.

So far, each of the ETFs is up a bit in its first few days of trading. But neither has exploded like bitcoin often has.

And Magoon said that's just fine with him.

"Bitcoin needs blockchain, but blockchain doesn't need bitcoin," he said. "The crash in cryptocurrencies is good and healthy."

Bitcoin index

British FX Firm Currencies Direct Pilots Ripple Tech

May 29, 2018 at 17:15 | Nikhilesh De

Foreign exchange brokerage Currencies Direct successfully completed several international transfers using Ripple's xRapid product.

Austrian Regulator Freezes Crypto Mining Firm Amid Investigation

May 29, 2018 at 16:15 | Nikhilesh De

The Austrian Financial Market Authority has suspended the operations of cryptocurrency mining firm INVIA GmbH for offering illegal investments.

Crypto Payroll Processor Bitwage Launches ICO Advisory Firm

May 29, 2018 at 13:00 | Nikhilesh De

Bitcoin payroll firm Bitwage has launched an advisory company aimed to make it easier for companies to launch token sales.

Korean National Assembly Makes Official Proposal to Lift ICO Ban

May 29, 2018 at 12:10 | Daniel Palmer

South Korea's legislative arm of government is pushing for the removal of the country's ban on domestic initial coin offerings.

EOS Forced to Patch 'Epic' Security Loopholes Ahead of Launch

May 29, 2018 at 11:01 | Wolfie Zhao

Blockchain platform EOS says serious vulnerabilities reported by an internet security firm just days before its mainnet launch have been fixed.

German Authorities Sold $14 Million in Seized Cryptos Over Price Fears

May 29, 2018 at 10:00 | Wolfie Zhao

Prosecutors in Germany have made an emergency sale of cryptocurrencies seized in two investigations due to concerns over price volatility.

Baidu's 'Wikipedia' Now Logs Revisions on a Blockchain

May 29, 2018 at 08:00 | Wolfie Zhao

Chinese search giant Baidu has turned to blockchain technology in order to make its online encyclopedia more traceable and transparent.

Universities to Build Blockchain DAO for Affordable Education

May 28, 2018 at 15:10 | Wolfie Zhao

A group of top-tier Chinese universities plans to build a distributed organization to make educational resources more accessible and affordable.

Blockchain Could 'Revolutionize' Retail and CPG Industries: Deloitte

A Deloitte report suggests the retail and consumer packaged goods sectors could see benefits from blockchain integration across a number of use cases.

Ridesharing App Founder Wants to Build a Blockchain 'Uber'

May 28, 2018 at 13:30 | Chuan Tian

Chen Weixing, founder of Chinese ride-hailing app Kuaidi Dache, is planning to build a blockchain-based application for ride-sharing.

Bank of Russia Official: Still Too Early to Gauge Blockchain's Potential

A senior official at Russia's central bank has said blockchain technology is immature but may have industrial-scale applications.

Amid Chaos, Our Decentralized Future Is Being Built

May 28, 2018 at 12:00 | Michael J Casey

Blockchain can upend – not just the business models of recent decades – but a millennia-old societal practice of deep significance to…

China Poised to Form Blockchain Standards Committee This Year

May 28, 2018 at 11:05 | Chuan Tian

China expects to form its national blockchain standards committee by the end of 2018, according to an IT ministry official.

I bought $250 in bitcoin. Here's what I learned

Some people kill time at the airport by browsing duty-free shops. I decided to shop for bitcoin.

But first, there are two things you should know about me: I tend to be almost as afraid of losing money investing as I am of flying. On some level, I figured one fear might cancel out the other.

So last Thursday, while waiting for a flight to Nashville, I pulled up a popular application called Coinbase that can be used to buy and sell bitcoin. The virtual currency had hit $10,000 for the first time a couple days earlier, before retreating somewhat. News of bitcoin's rapid rise was everywhere, including on CNN.

For 15 minutes at the airport, I refreshed the price of bitcoin over and over, watching as it gained and lost hundreds of dollars in a matter of minutes. I called out the price fluctuations breathlessly to my wife, who gently encouraged me not to be an idiot, before returning to her magazine.

She was in good company. JPMorgan Chase CEO Jamie Dimon recently called bitcoin a "fraud" and suggested people who buy it are "stupid." Warren Buffett called bitcoin a "mirage" in 2014 and warned investors to "stay away."

Are you trading Bitcoin? We want to hear from you.

And yet bitcoin has climbed more than tenfold since Buffett's warning. Earlier this month, one college friend casually told me over drinks he'd made tens of thousands of dollars investing in another cryptocurrency. He said he hoped it would be worth enough one day to buy a house.

When I saw the price of bitcoin fall to $9,500, I pressed buy, defying the wisdom of two finance titans and my wife. One hundred dollars, or 0.0101 bitcoins. (A few days later, I bought another $150.) By the time we got to our hotel, my stake had already gone up 10%. One week later, it was (briefly) up 100%. My wife's opinion of me has reportedly decreased by the same amount.

What is happening?

It's an investing frenzy, plain and simple.

Bitcoin cracked $1,000 on the first day of 2017. By this week, it was up to $12,000, and then it really took off: The price topped $17,000 on some exchanges Thursday, and $18,000 on at least one. Other cryptocurrencies have seen similar spikes, though they trade for much less than bitcoin.

There's a long list of factors people may point to in an attempt to explain this. Regulators have taken a hands-off approach to bitcoin in certain markets. Dozens of new hedge funds have launched this year to trade cryptocurrencies like bitcoin. The Nasdaq and Chicago Mercantile Exchange plan to let investors trade bitcoin futures, which may attract more professional investors.

Yet a key reason the price of bitcoin keeps going up is, well, because it keeps going up. Small investors like yours truly have a fear of missing out on a chance to get rich quick. And when the value of your bitcoin doubles in a week, as it did for me, it's easy to think you're a genius. But you can get burned assuming it will keep skyrocketing.

Some investors have likened the bitcoin hype to the dot-com bubble. Others, like Dimon, have said it's even "worse" than the Dutch tulip mania from the 1600s, considered one of the most famous bubbles ever.

As Buffett put it back in 2014, "the idea that [bitcoin] has some huge intrinsic value is just a joke in my view." Bitcoin is not backed by a company's earnings, or the strength of a government and rule of law. There's also no interest or dividends.

Why would anyone want or need to use bitcoin?

Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments.

Or at least that was the promise when it was created in 2009. The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency.

Right now, I can use my bitcoin holdings to pay for purchases at Overstock ( OSTBP ) , or book a hotel on Expedia ( EXPE ) . But if I use bitcoin to buy $25 worth of socks on Overstock today, and the price of bitcoin quadruples next week, I'll feel like those socks actually cost me $100. Then again, if bitcoin crashes, at least I'll always have the socks.

Rather than a currency, bitcoin is being treated more like an asset, with the hope of reaping great returns in the future.

So is there anything truly valuable about bitcoin?

Yes, the technology behind it.

Bitcoin is built on the blockchain, a public ledger containing all the transaction data from anyone who uses bitcoin. Transactions are added to "blocks" or the links of code that make up the chain, and each transaction must be recorded on a block.

Even bitcoin critics like Dimon have said they support the use of blockchain technology for tracking payments.

Is there a legal and legitimate way to invest in bitcoin?

Bitcoin exchanges have a checkered history. Mt.Gox, once the largest exchange, shut down in 2014 after losing hundreds of millions of dollars worth of bitcoin after a hack.

Today, the leading exchange is offered by Coinbase, a startup that has raised more than $200 million from a number of top tier venture capital firms. Square ( SQ ) , the payments service, is also rolling out a bitcoin product.

There are also bitcoin ATMs in scattered bodegas and convenience stores around the country, through companies like Coinsource. The ATMs let you exchange bitcoin for cash, or vice versa by scanning a QR code from the digital wallet application on your phone.

With Coinbase, you must first give the app permission to connect to your bank account. As with other stock trading applications, you pay a small fee for each transaction, buying and selling. But the transaction can take significantly longer.

My original $100 bitcoin purchase won't officially be completed on Coinbase until Friday, more than a week after the transaction. The price I bought it at remains the same, but I won't be able to sell at the earliest until Friday.

If the price plummets before then, I'm out of luck. No socks for me.

-- CNN's Selena Larson contributed to this report.

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Bitcoin market last 24 hours

The exchange table below displays all the marketplaces of the digital asset you have selected.
It is optional to select up to 5 exchanges at once to compare with the current market you are viewing. This will be listed above the chart with its price and volume for any specific period the chart's time frame is displaying.
If any specific exchange is down or no data is displayed, this will be detailed with the reason at the bottom of this table.

BITCOIN

Bitcoin is one of the first implementations of a concept called crypto-currency, which was first described in 1998 by Wei Dai on the cypherpunks mailing list. Building upon the notion that money is any object, or any sort of record, accepted as payment for goods and services and repayment of debts in a given country or socio-economic context, Bitcoin is designed around the idea of a new form of money that uses cryptography to control its creation and transactions, rather than relying on central authorities.

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Your search engine does not find any satisfactory results for searches. It is too weak. Also, the server of bing is often off

I created a yahoo/email account long ago but I lost access to it; can y'all delete all my yahoo/yahoo account except for my newest YaAccount

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be 'secure' then it'll be 'unfair' gaming and I'll lose because of the insecurity can be a 'Excuse'. Hope y'all understand my explanation!

I want all my lost access yahoo account 'delete'; Requesting supporter for these old account deletion; 'except' my Newest yahoo account this Account don't delete! Because I don't want it interfering my online 'gamble' /games/business/data/ Activity , because the computer/security program might 'scure' my Information and detect theres other account; then secure online activities/ business securing from my suspicion because of my other account existing will make the security program be 'Suspicious' until I'm 'secure'; and if I'm gambling online 'Depositing' then I need those account 'delete' because the insecurity 'Suspicioun' will program the casino game 'Programs' securities' to be… more

chithidio@Yahoo.com

i dont know what happened but i can not search anything.

Golf handicap tracker, why can't I get to it?

Why do I get redirected on pc and mobile device?

Rahyaftco@yahoo.com

RYAN RAHSAD BELL literally means

Question on a link

In the search for Anaïs Nin, one of the first few links shows a picture of a man. Why? Since Nin is a woman, I can’t figure out why. Can you show some reason for this? Who is he? If you click on the picture a group of pictures of Nin and no mention of that man. Is it an error?

Repair the Yahoo Search App.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and I signed in so he could try to fix the Yahoo Search App not working. He also used another phone, installed the app from the Google Play Store to see if the app would do any kind of search thru the app. The Yahoo Search App just wasn't working.

I also had At&t try to help me because I have UVERSE for my internet service. My internet was working perfectly. Their Technical Support team member checked the Yahoo Search App and it wouldn't work for him either.

We can go to www.yahoo.com and search for any topic or website. It's just the Yahoo Search App that won't allow anyone to do web searches at all.

I let Google know that the Yahoo Search App installed from their Google Play Store had completely stopped working on May 18, 2018.

I told them that Yahoo has made sure that their Yahoo members can't contact them about anything.

I noticed that right after I accepted the agreement that said Oath had joined with Verizon I started having the problem with the Yahoo Search App.
No matter what I search for or website thru the Yahoo Search App it says the following after I searched for
www.att.com.

WEBPAGE NOT AVAILABLE
This webpage at gttp://r.search.yahoo.com/_ylt=A0geJGq8BbkrgALEMMITE5jylu=X3oDMTEzcTjdWsyBGNvbG8DYmyxBHBvcwMxBHZ0aWQDTkFQUEMwxzEEc2VjA3NylRo=10/Ru=https%3a%2f%2fwww.att.att.com%2f/Rk=2/Es=plkGNRAB61_XKqFjTEN7J8cXA-
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

I tried to search for things like www.homedepot.com. The same thing happened. It would say WEBPAGE NOT AVAILABLE. The only thing that changed were all the upper and lower case letters, numbers and symbols.
Then it would again say
could not be loaded because:
net::ERR_CLEARTEXT_NOT_PERMITTED

This is the same thing that happened when Samsung and At&t tried to do any kind of searches thru the Yahoo Search App.

Yahoo needs to fix the problem with their app.

Yahoo Search App from the Google Play Store on my Samsung Galaxy S8+ phone stopped working on May 18, 2018.

I went to the Yahoo Troubleshooting page but the article that said to do a certain 8 steps to fix the problem with Yahoo Services not working and how to fix the problem. Of course they didn't work.

I contacted Samsung thru their Samsung Tutor app on my phone. I gave their Technican access to my phone to see if there was a problem with my phone that stopped the Yahoo Search App from working. He went to Yahoo and… more

The Bitcoin Volatility Index

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Bitcoin Price and Volatility

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Frequently Asked Questions

What is The Bitcoin Volatility Index?

This site tracks the volatility of the Bitcoin price in US dollars.

What is volatility?

Volatility is a measure of how much the price of a financial asset varies over time.

Why is volatility important?

Volatility means that an asset is risky to hold—on any given day, its value may go up or down substantially. The more volatile an asset, the more people will want to limit their exposure to it, either by simply not holding it or by hedging. Volatility also increases the cost of hedging, which is a major contributor to the price of merchant services. If Bitcoin volatility decreases, the cost of converting into and out of Bitcoin will decrease as well.

What definition of volatility does The Bitcoin Volatility Index use?

The standard deviation of daily returns for the preceding 30- and 60-day windows. These are measures of historical volatility based on past Bitcoin prices. When the Bitcoin options market matures, it will be possible to calculate Bitcoin's implied volatility, which is in many ways a better measure.

How volatile is Bitcoin relative to gold and other currencies?

For comparison, the volatility of gold averages around 1.2%, while other major currencies average between 0.5% and 1.0%.

The chart above shows the volatility of gold and several other currencies against the US Dollar. Series marked with an asterisk are not directly comparable to series not so marked because fiat currency markets are closed on weekends and holidays, and therefore some price changes reflect multiple-day changes. Such multi-day changes in price are excluded from analysis, and therefore, the 30- and 60-day metrics for these series use fewer than 30 and 60 data points. They are presented for entertainment purposes only.

What is the pricing source?

The Bitcoin Volatility Index is powered by CoinDesk for Bitcoin prices, and by FRED® for other series pricing data.

Bitcoin.com Composite Price Index

The Bitcoin.com Composite Price Index (BCX) is a daily historical price index that tracks the value of Bitcoin in United States Dollars. A real-time spot rate is published as well. The price displayed in the top menu of Bitcoin.com is the BCX Spot Rate. Historical values are charted here.

The BCX is a composite of multiple Bitcoin indices, providing a robust measurement of Bitcoin's value. Downtime or API changes on any one exchange or constituent index will not drastically alter the quality of the BCX. Constituent indices include:

When the constituent indices publish multiple timeframes, the daily value is chosen for daily BCX construction. The Spot Rate uses the latest data available for each index.

Methodology

The value of the BCX is a quadratic time-weighted average of the most recent data point of each constituent index. For the daily BCX, the weight is as follows:

Quadratic time-weighting places more emphasis on recent data points. For instance, a data point at 1200 hours would only receive 0.25 weight.

Index Value Format

All price values are denominated in US Dollar cents, so divide by 100 to convert to dollars. A return value of price: 100000 corresponds to an index value of $1,000.00.

API Endpoints

The base URI for all API calls is https://index.bitcoin.com/api

Server Time

The current time on the server:

Historic Index Values

The daily values of the price index. The return value is an array of [time, price] entries.

Historic Timeframe

By default, the /v0/history endpoint returns the past 6 months of data. Include query parameter ?span=all to return data back to the first day of Bitcoin trading, July 18, 2010.

Timestamp Format

The default time format is ISO 8601 , but the server will return unix timestamps in seconds since the epoch with the query parameter ?unix=1 .

Historic Price Lookup

To return the value of the index on a given date & time, use /v0/lookup . If a non-midnight time is specified, the value is interpolated between the open and close price for the day. Specify the ?time= query parameter. See price lookup in action on the Tools Page.

The open and close prices will be for the UTC midnights straddling the query time stamp. The lookup object will contain the timestamp of the query, the fraction k of one day elapsed between open.time and close.time , and the price as linearly interpolated between those endpoints:

The current Bitcoin price, updated in real-time, is available at /v0/price/:currency . Simple conversion from US Dollars to world currencies takes place behind the scenes with Open Exchange Rates FX values. Actual Bitcoin exchange rates in non-USD international currencies may vary significantly relative to the reported values from the BCX Spot Rate.

The :currency URI path should contain a supported ISO 4217 currency code:

AED AFN ALL AMD ANG AOA ARS AUD AWG AZN BAM BBD BDT BGN BHD BIF BMD BND BOB BRL BSD BTN BWP BYN BZD CAD CDF CHF CLF CLP CNH CNY COP CRC CUC CUP CVE CZK DJF DKK DOP DZD EGP ERN ETB EUR FJD FKP GBP GEL GGP GHS GIP GMD GNF GTQ GYD HKD HNL HRK HTG HUF IDR ILS IMP INR IQD IRR ISK JEP JMD JOD JPY KES KGS KHR KMF KPW KRW KWD KYD KZT LAK LBP LKR LRD LSL LYD MAD MDL MGA MKD MMK MNT MOP MRO MUR MVR MWK MXN MYR MZN NAD NGN NIO NOK NPR NZD OMR PAB PEN PGK PHP PKR PLN PYG QAR RON RSD RUB RWF SAR SBD SCR SDG SEK SGD SHP SLL SOS SRD SSP STD SVC SYP SZL THB TJS TMT TND TOP TRY TTD TWD TZS UAH UGX USD UYU UZS VEF VND VUV WST XAF XAG XAU XCD XDR XOF XPD XPF XPT YER ZAR ZMW ZWL

Bitcoin Misery Index

DEFINITION of 'Bitcoin Misery Index'

The bitcoin misery index measures the momentum of bitcoin based on its price and volatility. The Bitcoin Misery Index, or BMI, was created in 2018.

Satoshi Cycle

Bitcoin Unlimited

BREAKING DOWN 'Bitcoin Misery Index'

Bitcoin was created by Satoshi Nakamoto in 2009, and is considered the first decentralized digital currency. While it has consistently remained the most well-known cryptocurrency, its price remained less than $20 until January 2013.

Interest in Bitcoin increased dramatically in 2016, with the price of one bitcoin increasing 123% by year’s end. By 2017, investors were pouring into BTC, pushing the price to just under $20,000 in December. Investors who expected bitcoin prices to continue their meteoric rise after December 2017 were met instead by a decline of over 50%.

As interest in bitcoin has risen, so too have threats to its stability. Several countries have either banned or created substantial regulations targeting cryptocurrencies.

The South Korean government had several concerns, including embezzlement, money laundering, and the possibility of weakening capital controls. China’s concerns included the amount of electricity used by bitcoin miners, as well as money laundering and fraud.

Investors in Bitcoin and other cryptocurrencies have also had to deal with the possibility of their digital assets being stolen if they were stored in “hot wallets”: digital wallets that were actively connected to cryptocurrency exchanges via the Internet. Several exchanges have been hacked, with Mt. Gox losing over $450 million and Coincheck losing over $500 million.

Regulatory and security uncertainty has given rise to a new type of misery index: the Bitcoin Misery Index, or BMI. The BMI was created in 2018 by Tom Lee, a co-founder of Fundstrat Global Advisors. The index incorporates the percentage of winning trades to total trades, as well as volatility. It shows a value of 0 to 100. The index is considered “at misery” when the value is below 27. As a contrarian index, the closer the index is to zero the louder the “buy” signal.

Trading exposes investors to several types of risk, including transaction risk, interest rate risk, leverage risk, counterparty risk, and country risk. Unlike with trading U.S. dollars or euros, cryptocurrency investors have to contend with other risks created by assets based on a decentralized ledger. Without a central bank to act as a guarantor, if something goes awry with a cryptocurrency, investors may have little recourse.

The highly risky and speculative nature of bitcoin investing favors investors who are able to quickly analyze shifts in prices and understand the impact of news announcements, and place buy or sell trades accordingly. Seeing low index levels in BMI may prompt less sophisticated investors to automatically buy bitcoin, rather than consider the option to buy while also surveying other factors that may impact prices. It is possible that much of the increased demand for bitcoin since 2016 has been from less sophisticated investors.

While indexes are useful as early warning indicators of market sentiment, they cannot predict the future. The Bitcoin Misery Index cannot predict whether there will be a theft at a cryptocurrency exchange. It won’t be able to estimate whether the Securities and Exchange Commission (SEC) will require crypto exchanges to register as legal exchanges, rather than just Internet-based platforms that allow bitcoins to be bought and sold.