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Bitcoin futures could be hurting bitcoin’s price

June 18, 2018

LONDON — A Wall Street analyst known for his bullish stance on bitcoin has flagged the possibility that bitcoin futures contracts could be hurting the cryptocurrencies price.

Bloomberg reports that Tom Lee, the cofounder of research firm Fundstrat, said in a note last week that bitcoin futures contracts could be behind bitcoin’s recent “gut-wrenching” price declines.

Lee said in his report that there is “significant volatility” in bitcoin’s price around the expiration date of CME Group and CBOE futures contracts.

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