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RE: Remember when Bitcoin supporters praised the futures market? Now you can profit from shorting Bitcoin

in #bitcoin • 6 years ago

Hi Dana. Thanks for writing this article. I would love it if you could elaborate on the first sentence where you claim that it is possible to profit from BTC's prices going down too. Are you referring to BTC futures? I would appreciate more info about this. Thanks.

6 years ago in #bitcoin by
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     6 years ago (edited)

    Right here. It almost looks like a classic pump and dump. This is because I don't see any significant news which brought Bitcoin to $20,000 nor did I see any significant news to bring it back down to where it was before the pump.

    “That’s a very important step for bitcoin’s history…We will regulate, make bitcoin not wild, nor wilder. We’ll tame it into a regular type instrument of trade with rules.”

    “There really is zero large-scale institutional money from the west in crypto right now. That is happening in Japan. Once a large sizable chunk of Western institutional money starts to come in — watch out.”

    What is keeping western money out of crypto? I'm sure people here on Steemit can speculate.

    Reference

    1. https://www.ccn.com/did-the-futures-market-negatively-affect-bitcoin-price-and-the-entire-industry/
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     6 years ago 

    I found this very interesting read on medium
    Which discusses about how Cartels could be involved in the price suppression of bitcoin.

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