Tradesmarter, a leading provider of binary options platform technology and B2B services today announced a product update worthy of note – binary options for Bitcoin is now available. The company claims that they offer the shortest time available on the market – just 5 minute expiration.
Bitcoin prices have decreased significantly from the parabolic high of just one year ago, when the leading world crypto-currency shot above $1,000. The peak was short lived as prices came crashing back down to earth, along with other commodities. The price of bitcoin today December 1st, 2014 stands at $378.37; compared to December 1st 2013’s $1,019.89 – a roughly 62% drop YoY!
YoY change in Bitcoin prices, Courtesy: Coinbase
Many institutional exchanges, brokerages and leading government financial regulatory authorities are looking to take Bitcoin to the next level. Experts believe by standardizing trading on exchanges in clear transparency and clear laws governing it’s status may smooth out volatility and give BTC more legitimacy as the digital commodity finds it’s place among asset classes and wider mainstream. For now, brokers are keen on adding the digital currency to it’s list of instruments to trade. There is word on where TradeSmarter is receiving it’s price feed. Similarly announced last week, USA binary option exchange Nadex also added Bitcoin, they disclosed they will be using prices from TeraExchange’s Tera Bitcoin Price Index.
To see the official announcement from TradeSmarter, click here.