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Why we are bullish on bitcoin trading as we approach its first-ever US ban

Why we think the ban on bitcoin is a bad idea, and why we believe the market is ripe for a comeback article The bitcoin futures market is still recovering from the US’s first-of-its-kind ban on trading, with traders scrambling to get in on the action.

However, there are some concerns about the market’s prospects for a rebound as the markets regulator seeks to curb the cryptocurrency, which has surged more than 20-fold in value since the ban went into effect last Friday.

The US Securities and Exchange Commission (SEC) is looking to ban trading in bitcoin futures, as it believes it will impact the cryptocurrency’s ability to trade on a worldwide basis, including on exchanges.

“This ban will likely have a material adverse impact on the trading and pricing of bitcoin on major international exchanges,” the regulator wrote in a letter to the US Futures Trading Commission (USFTC) in March, warning that “bitcoin futures will be adversely impacted if the ban is implemented”.

“The ban is not a new one, but it is unprecedented and could have long-lasting and potentially disastrous consequences,” the letter continued.

In its application, the SEC outlined its concerns that trading in the futures market could “undermine confidence in the market” and cause a “significant loss of confidence in bitcoin as a global financial asset”.

The letter stated that trading on the futures exchanges would be restricted to US customers and only those with “sufficient knowledge and experience” in the space, and that those who have “misplaced” bitcoin on the exchanges would face “significant penalties” and “considerable disciplinary action”.

The letter was submitted to the SEC on March 14, shortly before the ban was announced.

Following the announcement, the futures markets regulator’s website was inundated with angry comments from bitcoin investors and traders, who said the ban would affect the futures industry and potentially hurt the crypto-currency.

Despite concerns about a slowdown in trading on bitcoin futures in the coming weeks, the market has rallied and gained over 20 per cent in value.

It’s a rally that has come despite concerns from the SEC about the potential impact of the ban, with some traders claiming the market was “ready for the apocalypse” on Thursday morning.

According to a Reuters analysis, the average price of bitcoin has risen by more than 3,000 per cent since the US ban went live.

For investors who are keen to jump into bitcoin futures markets, there is a limited amount of time left for trading before the SEC can take action.

The deadline for pre-orders on the Chicago Board Options Exchange (CBX) was set for Wednesday, but the market closed at 10:00am local time on Wednesday.

A spokesperson for CBX told CNBC that the trading of bitcoin futures had “ended” at 11:00pm.

Bitcoin futures traders have taken to social media to express their disappointment at the ban.

We’ve just been through the first few days of the #ban.

We can’t wait to get our hands on our futures, and see what the market does!

#bitcoin #bitcoin futures — Peter (@PeterKlek) March 25, 2019 The futures market was set to start trading on Monday, and will be closed on Thursday.

Market watchers say there are still some doubts about bitcoin futures’ future after the US Securities & Exchange Commission rejected an application from the company Bitstamp for a trading license.

There were concerns that the SEC would “significantly impact” the bitcoin market, as the regulator is “expected to issue a formal rulemaking request” to determine the impact of this ban on the bitcoin price, the New York Times reported.

Meanwhile, the US Supreme Court heard oral arguments in a case filed by a group of lawyers from New York and Chicago, which seek to block the US government’s efforts to regulate bitcoin futures.

The case was brought by New York-based bitcoin trader and former bitcoin entrepreneur Brian Kelly, who is seeking to block enforcement of the US sanctions on the cryptocurrency.

He said in a statement that “we are very hopeful that the Supreme Court will overturn the US Commission’s ban on Bitcoin futures.”

The case is expected to be heard by the end of the month.