Bitcoin Futures Contracts Expire Tomorrow..

That absolutely wasn’t a re used intro. I just had a longer beard this morning. It’s funny how hard this was to lip sync. I was pretty excited about the possibilities I had recently opened up for myself at the time having discovered hey, I can actually put myself in pictures. I’ve never done a video editing course, in case that wasn’t already obvious, I just keep playing around and sometimes I will get an idea.

Anyway, look at these beautiful markets. Look at that Bitcoin line. Gorg.

But wait, tomorrow might possibly be a red day. Friday July 27th. The reason being is that this is the day that bitcoin futures contracts offered by the CME group are scheduled to expire. Now to preface this, previous price activity is not always indicative of future results, so take this for what you will.

Bitcoin futures contracts are more popular than they’ve ever been. According to this tweet from the CMEGroup: https://twitter.com/CMEGroup/status/1022145206773325825 So they’re gaining more and more influence over the market. That is a lot of publicity for widespread adoption of bitcoin futures. It would just be nice if there weren’t so many utilizing futures contracts to short Bitcoin.

Overall, it’s difficult to say if futures contracts ended up being something positive for Bitcoin. Anything that increases its global footprint is good, but it’s slightly funny, and by that, I mean extremely depressing, that the day the first bitcoin futures product was introduced was December 17th, 2017, when Bitcoin was $19,891 on Bitfinex.

So, this will be the 7th time so far that the futures contracts have expired. On four out of the previous six occasions the price of Bitcoin on the day and in the days leading up to it fell on average 12%, while the remaining two gained a meagre 1.5%.

Pretty hard to say if it is at all related, after all it’s been a bear market that entire time. Tomorrow will be a real test of this bullish sentiment we have going on.

https://www.coindesk.com/8k-in-reach-4-barriers-await-emboldened-bitcoin-bulls/
Facebook loses $138 billion of value in 2 hours yesterday. The only connecting factor is that people care about privacy. BAT and the brave browser to the moon! I like BAT, but sadly I don’t think this means anything and those attempting to draw correlations, like the top post on /r/cryptocurrency are clutching at straws.

The obvious thing here is that BAT is payment for watching ads, the brave browser is a privacy enabled web browser, while Facebook is a social media website. Apples and oranges. Granted there is a slight overlap, they are both fruit, but it’s slight.

The real reason for the huge loss of Facebook share price is the quarterly earnings report being low, not because people are suddenly concerned about privacy. But hey, who said stock market investing was less volatile than crypto? Now you’re only 90% correct.

Now moving onto a cryptocurrency that I believe our friend Fiat Daily would think is a brilliant idea, Iran plans to create their own token. Now I’ll leave the article below if you want to read the whole thing but here is what I wanted to share.
“The cryptocurrency would back and tokenize Iran's national fiat currency, the rial, in order to facilitate domestic and cross-border transactions ahead of the U.S. sanctions, which go into effect next month.”

So, I’m assuming they’re going to create a 1:1 backed token similar to Tether in that case. Except you have full power to make more for yourself whenever you want and not only are you the bank, but you are the law and under no obligation to the people. I wonder if they will run a private pre-sale for their rich and powerful friends, where they can get a 30% bonus on their tokens. The Venezuelan petro coin, which is actually a real thing, raised $735 million on their first day, a claim which has yet to be proved.

Everything you love about this crazy freedom movement right here peeps: https://www.coindesk.com/iran-plans-national-cryptocurrency-as-new-us-sanctions-loom/ Referral link down below, get a 5% bonus on your Iranian tokens. This thing is going to the moon.