Researchers at the Federal Reserve Bank of San Francisco said the CME Group’s decision to list bitcoin futures has caused the price to drop; the New York Times quotes the research, “The advent of blockchain introduced a new financial instrument, bitcoin, which optimistic investors bid up, until the launch of bitcoin futures allowed pessimists to enter the market, which contributed to the reversal of the bitcoin price dynamics.”; the price of bitcoin has dropped more than 50 percent from the high in December 2017. Source.
