Ever since the CME opened, we have seen negative days -- every day -- except a day on which the CME was not open (Saturday the 23rd).
The CME resumes trading in 30 minutes. I suspect we will see another negative day.
The CME resumes trading in 30 minutes. I suspect we will see another negative day.
Correlation is not causation.
Then what are you doing on the Speculation forum?
There is the idea that futures might reduce demand. The price action is consistent with that. Let's wait and see.
Hahahahaha
What an "idea" that seems to be the opposite of reality, if it is how you describe it.
Think about it.
In late 2017, a bunch of traditional financial people do not know much if any thing about bitcoin, and accordingly, they do not own much if any bitcoin. Thereafter in late 2017 a speculative instrument is created in order for them to "bet" futures. Oh, that is going to cause BTC prices to go down? How they gonna do it, they don't own any? They gonna get HODLers to sell? Good luck with that.
If they actually want BTC prices to go down, along with the direction of their bet, they have to buy BTC in order to be able to sell it, no?
Anyhow, seems like demand for BTC is going to be increased rather than decreased, and seems like BTC price performance (aka "action') is seeming somewhat reflective of that increased BTC demand dynamic.... How do you say? Remember a few weeks ago BTC prices were in the $9k territory, and where the fuck is it now? Seems to be up, no? I am not saying that CBOE or CME is the only cause for BTC prices to go up, because there are other things going on in BTC also that is contributing to increased demand and a shortage of supply, including a general inclination of HODLers not to want to sell BTC at these current prices.
Good luck with your bet downward, if that is what you did or are planning to do.
