Gregory, extreme volatility is good for bitcoin, and the CME and the CBOE Global Markets will increase the volatility. Chances are the CME and Cboe will try to supress bitcoins price by shorting it in the same way they manipulate gold and silver. Their problem is they can only manipulate 5 days a week whereas bitcoin being a decentralised entity trades 24/7. The end result I believe is that they will be unable to halt the progress of bitcoin.
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No. If Bitcoin IS going to be a "currency" of some kind it MUST HAVE STABILITY. Otherwise the entire concept will fail in that regard and its price will plunge.
It will plunge eventually, but it's needed in the present climate and could be around for some time as a "safehaven", for the short term it is going to make a lot of people a lot of money.
Thanks Greg, please up vote me!