Bitcoin Futures — The Next Big Short?
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We’ve been predicted the end of Bitcoin countless times. The naysayers have always been proven wrong.
However, it seems clearer by the day what’s really behind the Bitcoin futures:
Three agencies are preparing to trade and bet on Bitcoin simultaneously.
Cboe announced to launch Bitcoin futures on December 10, 2017, to be followed by CME‘s Bitcoin futures on December 18, 2017. Along with CME and Cboe, the mighty Nasdaq is joining the Bitcoin mania in Q2, likely in April.
Why the rush? Usually it takes months if not years to develop such products. How well are the contracts designed? What’s the motive behind the futures? Take it as some first form of “backdoor regulation” creeping in:
Insider intel is that these powers that be are doing this to be able to handle Bitcoin and crash it by favoring short versus long, even if initially they end up pumping it up a bit.
This is apparently under instructions of higher official groups, directed to put a handle on Bitcoin.
In other words: we might have a sort of “big short” coming or in the making for Bitcoin. Something Bloomberg picked up on:
Seeking Alpha phrases it more bluntly — Futures Spell the End of Bitcoin Mania:
We should expect (…) for the digital gold rush to end.
Shall Jamie “dino” Dimon keep the last word?
Killing two birds with one stone: Wall Street doesn’t want to kill the “troublemaker” currency without being able to profit from it.
Interestingly, the financial establishment’s first “official” Bitcoin products are futures, and not simple trading or options. Futures put a leash on this free-wheeling anarchy coin and make it easier for Wall Street to manipulate the price and engineer a giant cash-out.
And paradoxically, they trade and bet on Bitcoin, without owning any Bitcoin… get the point? These forces are pros at making and taking other people’s money.
At this point it doesn’t look like an attack on the whole cryptocurrency ecosystem. It’s an attack directed at Bitcoin, to stop it from being a go-to escape asset. And as a plus, futures in cryptocurrencies add to the market’s legitimacy.
Yet the big leagues understand Bitcoin’s days are numbered, hence the plan to fork it many times and run it to its maximum point.
Bitcoin top folks seem to understand that Bitcoin will loose fundamentals once all exchanges come under scrutiny. Before that point they want to ride hard, fork as much and drain the value in other forms of cash.
Also read Bitcoin Poses Systemic Risk.