|
Buckle up and read this with an open mind...
Interesting to think that it’s possible the CME group is responsible for building the value of Bitcoin up artificially over the 2-3 months leading up to their futures trading and then dumping the majority of the coins they bought at the same time the futures contracts went into effect where they bet on the price dropping.
It’s brilliant, really.
They profited HUGELY on Bitcoin, itself...profited HUGELY on the futures contracts and now will be able to re-buy Bitcoin at a dramatic discount while also profiting on the next round of futures contracts where they will likely bet on the price increasing. Or do another round of shorting it...to ultimately buy it all back for “pennies on the dollar”
The more I think about this being the fairly probable reality of the situation, the more it makes me want to get my money out to see what happens on the 26th/27th...when the next round of futures contracts start.
There was a Wall Street prominent trader that called for Bitcoin to hit 1000 in 2018...if that happens, the whole crypto market would have a massive drop from today...
...
I also find it VERY INTERESTING that during the last month (where CME has artificially manipulated the price of bitcoin) bitcoin is down 25.02% while Ethereum is up 43.32%.
LET ME SAY THAT AGAIN FOR THOSE THAT DIDNT CATCH IT...IN THE LAST MONTH, BITCOIN IS DOWN 25% while Ethereum is up 43%.
That’s a HUGE SWING.
I think Ethereum would be the top crypto right now if it weren’t for CMEs involvement with Bitcoin.
ITS BECAUSE CME BOUGHT UP BILLIONS IN BITCOIN TO PROP UP THE PRICE BEFORE FUTURES TRADING OPENED AND THEN DUMPED IT ALL ON OVERSEAS EXCHANGES TO HIDE THE TRAIL!
Ethereum dropped a similar amount as bitcoin during the crash CME caused, but has bounced back to 80% of its high (people are buying into the superior technology)..while Bitcoin has struggled to get back to 60% of its high without CME artificially pumping up the price.
Gonna be interesting to see what happens on January 26th/27th.
|