Everything you need to know about the currently tanking crypto market in one image. June 29 bitcoin futures expire next Friday, which originally went on sale Dec 15 (at the height of BTC price mania). Delta between expected price then & suppressed price now = whale profits.
Remember how invincible bitcoin seemed in December? For every long investor back then who FOMO'd into a high-priced June 2018 BTC futures contract, someone with deep pockets on the other side of the trade is incredibly incentivized to see that price tank as much as possible...
Good news is, this June 29 date is the farthest out you could buy futures contracts starting in December, and by the time later dates opened up, BTC markets had already lost steam. So whatever crater we hit at month's end is likely the bottom.
My prediction is BTC continues going down. Many people will leave bitcoin but some will buy in to wait for it raising in future.Remember how invincible bitcoin seemed in December? For every long investor back then who FOMO'd into a high-priced June 2018 BTC futures contract, someone with deep pockets on the other side of the trade is incredibly incentivized to see that price tank as much as possible...
Good news is, this June 29 date is the farthest out you could buy futures contracts starting in December, and by the time later dates opened up, BTC markets had already lost steam. So whatever crater we hit at month's end is likely the bottom.
As he said many people are not leaving the cryptos they just selling their bitcoins now and just waiting to buy bitcoins more cheaper now they follow the strategy of the whales.
