What are #Futures?🤔💎

Futures in #crypto are financial contracts that obligate the buyer to purchase, and the seller to sell, a specific amount of a cryptocurrency at a predetermined price at a set date in the future. 

Example Scenario:

Imagine you think the price of #Bitcoin will go up in the next month🫡. You enter into a Bitcoin futures contract to buy 1 BTC at $60,000, with the contract set to expire in one month.

If BTC's price goes up to $65,000 by the contract's expiration, you still buy it at the agreed price of $60,000, gaining a profit of $5,000.🥳

If BTC's price goes down to $55,000, you still have to buy it at $60,000, resulting in a loss of $5,000.😕

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#Futures #crypto #Bitcoin