Post
Topic
Board Speculation (Altcoins)
Re: [XMR] Monero Speculation
by
amaral1977
on 09/12/2017, 13:47:29 UTC
what do u guys think of the bitcoin futures that will be released tomorrow? this could push the bitcoin price lower yes?

Historically prices of futures never influenced the price of the underlying asset much.

Also, keep in mind that a future is originally meant for commodities like e.g. grain or wood. These contracts are passed on like hot potatoes, because if the contract expires, you literally get your commodity delivered in your front yard. Most people don't want that Smiley but.... because bitcoin is digital and it would fit nicely in any backyard worldwide with virtually no transport or storage cost, it is very easy to  take delivery after the future has ended.  My guess is that shorters will be terribly burned, soon.
From what i´ve learned from my friends (two of them are brokers) is that most of them will rush in shorting. One of them was amazing with a 2k change in price...I just smiled. What i don´t understand (i just don´t know how it works) is the influence of trillions of dollares from the chicado market in a lower marketcap asset. IF the shorting pressure is high, will it actually push the price down?