I just wanted to know if anyone has theories about the impact of having bitcoin futures. Although there seems to be not many people shorting hehe
Impact of bitcoin futures was clearly seen in the first month itself leading bitcoin price tp reach ATH of almost 20,000.But now it seems that it has no effect over bitcoin price and bitcoin is totally free from the impact of bitcoin futures.
This is still the effect of that event. It rose to $20,000 because of there was a lot of speculators that bought at lower prices and sold off at those highs at the same time bought bitcoin futures that were bearish with prices a lot lower than $20,000. Now when the time came that the futures were going to mature, they dumped all the bitcoins they had which completely brought the price down which was perfect for their share in the futures. Win-win for them for buying low and selling high then winning also their futures.