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The Bitcoin Bubble May Have Popped

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Hey guys i would usually make a video on this but the lighting in my room sucks at nighttime and my dad is asleep so i'm gonna give this to you guys @Hodor style! (just a blog lol)

Bitcoin is down 17% for the last 24 hours and it is obviously due to the uncertainty about the futures exchange listing bitcoin

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So if i am a guy on wall street that just got done doing wall street shenanigans and i'm wanting to make a quick buck on some bitcoin futures, if i'm seeing this I would think that this is a big shorting signal right here, makes sense after the huge gains. IMO I think the bitcoin bubble may have popped. I don't see whats going to stop bitcoin futures from shorting this bad boy. So lets say bitcoin is at 4,000$ tomorrow, This would be a good chance for some volume to flow into xrp, I think it would have a lot of money flowing into it if it doesn't drop as much as the other coins, lets say it only goes down to .22-.23 this would show the crypto space that xrp doesn't follow bitcoin. I kinda hope the bubble does pop, but i kinda hope it doesn't

Just get your popcorn and tradingview.com ready because its gonna be quite a show!

 

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Don't think the futures market will have as big of an impact as you think.  These are cash settled shorts (blind shorts?) and it would require massive collusion with very big BTC holders to organize an orchestrated selloff.   Would this stop a BTC whale with physical possession from taking a short position and driving the price down?  No idea.  Not even sure of the legal ramifications of this but I'm sure CME has thought of this in advance.

I have very little professional trading knowledge, this is just my uneducated opinion from what I could gather.

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2 minutes ago, Trippy said:

A bump on the way to $25k - $30k. Let's revisit this thread in a couple of months. ;)

Yeah, think it's a minor correction.  Think it's going to take a serious hard fork and flippening type event to see the kind of capital exodus necessary to stop the Money Badger. 

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Just now, Archive said:

Yeah, think it's a minor correction.  Think it's going to take a serious hard fork and flippening type event to see the kind of capital exodus necessary to stop the Money Badger. 

Yep. I see Bitcoin as more like a killer robot with indestructible shielding. Money badger sounds too cute. ;)

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Heheheh Makes no difference to me. I didnt but a coin as much as a bought a usecase :)

As far as refugee money coming from BTC to XRP its tough to say but XRP does seem to be gaining on BTC right now, if only by falling slower. 

I do think that BTC is in a bubble, but the crash wont happen in a flash, but a grueling net downturn. I couldnt say when a BTC crash would happen, but I would guess it would take at least a couple of months to fully deflate. 

 

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I seriously wanted to sell everything this morning.  Sometimes you just know it's going to rain without having to hear it from the orange weatherman.  Of course, I didn't sell anything.  But it was a nice surprise to see most alts get killed alongside bitcoin while xrp pretty much held its ground.  In any case, I have a bad feeling about wall street trading futures on crypto.  Exactly who's money do they intend to take?

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I have run through the scenarios in my head allot over the last month. It is hard to see how it is going to play out, I am taking a seat on the side lines and only have my long term holds at the end of last week. However, I think we will see major btc sell of for the rest of today and into the US open tomorrow. If the price can be pushed down to 10-11k I do not think wall street is in a position to short it much further. The amount of buying support it will see in the 7-8k range, I struggle to see that breaking, if they manage to push it lower I can only see greater buying opportunity for people that feel they have missed out.

If we can hit that target of 10-11k I see allot more buying opportunity and less risk in going long. Trying to short bitcoin is hard enough at the best of times especially with so many people waiting to get in at any drop, whether this can compete with institutional money is the question. Either way I think we are in for a crazy ride next week and hope Ripple have some announcements on hand that could keep stability in any major sell offs.

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