Deutsche Boerse, the owner of the Frankfurt Stock Exchange, is considering introducing cryptocurrency products to the offer. Speaking at a Wednesday industry event in London, Jeffrey Tessler, head of products and key company markets, said they were deeply involved. However, entering the exchange cryptographic zone may not be immediate: "Before we move forward with something like Bitcoin, we want to be sure that we understand the underlying transaction, which is not the easiest thing to do" - says Tessler.
While CME Group and Cboe Global Markets have already started trading in Bitcoin futures in December, Tessler said Deutsche Boerse is not at the same stage. The company, he says, is trying to understand the volatility of the Bitcoin market before they switch to any offer. Despite the fact that the transition to offering Bitcoin products is not yet certain, the stock market was already active in the Blockchain space.
In June, Deutsche Boerse revealed details of the plan to transfer most of the post-transaction services to Blockchain. She said then that she is focusing on creating a system that uses the open source Hyperledger protocol, which would be used to transfer securities and money from a commercial bank, while ensuring compliance with legal regulations in different jurisdictions.
Let's now take a look at Bitcoin technical picture at the H4 time frame. The market has broken slightly below the technical support at the level of $7,435 and made a new local low at the level of $7,247. The Pin Bar formation at the bottom of this move down might indicate the end of the Double ZigZag corrective pattern of the wave 2/B, but this bottom is still unconfirmed. The confirmation will come with the level of $7,890 break out and golden trend line test. Otherwise, another wave down might still be developing.
