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CME Futures Killing Bitcoin?


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14 minutes ago, battered_lifer said:

So, is it fair to say that it's CME Futures that are killing Bitcoin? And, consequently, plunging the market into the Dark Ages.

BTC March CME futures stopped trading at 4pm London time on 29th March. The fall has continued, even accelerated, in the hours following. Therefore I don't think it's a big factor in this latest sell off.

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1 hour ago, Benchmark said:

The sacrifice of bitcoin will have its place in history. They were the first but it won't last.

Useful blockchain tech will flourish regardless.

What is needed is a replacement for BTC that settles in seconds, is widely used by Banks and which seeks to support compliance, backed up by an innovative tech firm to maintain the technology roadmap and promote adoption.

Edited by Mikhail_Liebenstein
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1 hour ago, battered_lifer said:

So, is it fair to say that it's CME Futures that are killing Bitcoin? And, consequently, plunging the market into the Dark Ages.

I sure think it is. Sold my BTC in december when futures started. I changed to XRP and invested my money and my profits on BTC in XRP. From an investment perspective i did the only right thing switching to XRP of course.

It feels way! better to be deep in dark-red on XRP than on BTC:yahoo:

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I do think that Bitcoin futures scared new investors to poor their money in BTC. There's proof imho, because the downtrend on BTC started just after the first BTC expiration, which was long at Bitcoin. Others were short. Rest is history, check the prices since then

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1 hour ago, battered_lifer said:

I'm not partial to the idea of big banking institutions like JP Morgan or Central Governments crushing bitcoin just to protect their own wealth and dominance. It's sickening.

The cynic in me would say they need to crush the crypto market before it becomes adopted by the wide spread populous as a means of storing wealth and payment. How would they bail themselves out of the next financial crisis if people stop using banks. Those who control the money control the population. 

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I don't believe CME futures are killing Bitcoin at all (I personally don't believe BTC will disappear any time soon but that's a different subject altogether).
When I compare BTC patterns of 2013/2014 and 2017/2018 I see similarities: 

btc.png.b519c05b04f12b23747a34dc0bf385df.png

This pattern will take place again in the near future. Only bigger.  

 

Edited by Danny
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1 hour ago, battered_lifer said:

I'll be sad when the Fortune 500 succeed in crushing Bitcoin, for what this represents. That no matter what happens, we always wake up sucking the corporate c#$k.

 

The huge red flag is when monstrosities like Goldman Sachs start getting interested.

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