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Watch Out: Bitcoin futures will go up after a Bitcoin price drop



Bitcoin futures are going up after the price of the digital currency crashed after a U.S. regulator proposed a new rule banning the trading of cryptocurrencies.

Bitcoin futures are now trading at about $3,500 apiece, according to the London-based CBOE Volatility Index.

The price of Bitcoin has fallen by more than 60% since it hit a record high in late June, according the CBOE.

Regulators in New York and Connecticut are expected to announce regulations on trading cryptocurrency futures later this week.

Banks are also starting to open up bitcoin accounts to allow the use of virtual currencies, Bloomberg reported.

Earlier this month, bitcoin futures closed above $3k. Bloomberg

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