While regulation is sure to be a topic of conversation, Lee said he doesn’t expect this to hinder, what he sees as a pending rally. “What could go wrong? Commentary around regulatory risks during Consensus are negative. We do not expect this to be the case, however,” wrote Lee.
Late Monday, the New York Times, citing anonymous sources, said the parent company of the New York Stock Exchange, Intercontinental Exchange, is working on a trading platform that would allow investors to purchase bitcoin.
The news is another step toward mainstream adoption for cryptocurrencies and follows last weeks announcement that Goldman Sachs Group GS, +0.17% would be opening a cryptocurrency trading desk.
How altcoins and futures are performing
The so-called alt-coins, or alternative coins to bitcoin, have tracked bitcoin lower early Tuesday. Ether ETHUSD, -3.43% was down 3.3% at $734.80, Bitcoin CashBCHUSD, -6.45% has lost 4.8%, trading at $1,590, Litecoin LTCUSD, -4.66% was off by about 3.7% at $160.53 and Ripple’s XRP XRPUSD, -4.48% has shed 4%, last trading at 81 cents.
Futures have tracked the spot market lower Tuesday. The Cboe Global Markets Inc.’s May contract XBTK8, -2.92% is down 3.3% at $9,095 and the CME Group Inc. May contract BTCK8, -3.18% is off 3.4%, trading at $9,115.