Bitcoin Bashing By Buffet & Bill Gates Gang: Mini-FUD

supercrypto1 (50)in #bitcoin • 7 years ago (edited)

Most of the people think Bitcoin drop since CME launch was a coincidence. No, it was not. Now there is a FED research paper on the Fall-in-the-price that clearly says

it was NOT A COINCIDENCE

The crypto community was told in Dec-17 that Institutional money will pour into Bitcoin and we will be going to moon in our lambos soon. Nothing of that sort happened. Why? Because trading in futures market uses paper derivatives which are designed with a different purpose in mind. Derivative products are created to protect the big player’s interests, they are NOT created for the retail investor. They feel only Institutions have right to go to moon…not Joe-the-plumber.

Retail investors may lose money if they are not careful in this game. I am not saying we cannot profit - What I am saying is we need to trade carefully. Play their cards to win this game.

"The rapid run-up and subsequent fall in the price after the introduction of futures does not appear to be a coincidence," four researchers say in the regional Fed bank's recent Economic Letter. Launch of bitcoin futures (CME & COBE) dragged down prices

Here is the more from the Fed Bank.

FEDERAL RESERVE BANK (SF): How Futures Trading Changed Bitcoin Prices

Before December 2017, there was no market for bitcoin derivatives. This meant that it was extremely difficult, if not impossible, to bet on the decline in bitcoin price. Such bets usually take the form of short selling, that is selling an asset before buying it, forward or future contracts, swaps, or a combination.

How Futures Trading Changed Bitcoin Prices

What happened since CME introduction is NOT Coincidence

Technically, this research paper is for the doubters. I had given the entire blue print even before it started in my twitter handle @Super_Crypto. Lot more details in my Cartel post

Talking about coincidences. Here is one recent successful mini-attempt to DUMP BTC using FUD

B&B Company tried to pour rat-poison on the Bitcoin and we got 10% Dip

Saturday 9AM ET Bitcoin is at $9,990 and ready to Break 10K any moment
Mr. Warren Buffett Calls Bitcoin ‘Rat Poison’ again.
Bitcoin drops couple of hundreds and then tries to rally
Then it drops $500 once the news gets to news channels
Mr. Bill Gates decide to trash Bitcoin on CNBC squackbox on Monday morning
Cartel fill their Bags
Missions accomplished

Good thing to note here is Mr. Bill Gates FUD did not create a negative reaction. This might be a sign that people are ignoring these frequent FUDs. Very positive for BTC.