How can Futures Possibly Rig the Bitcoin Market?
I understand that the graphs for bitcoin futures and bitcoin segwit are very similar.
But I could never understand how there could possibly be such a connection since bitcoin futures are NOT redeemable in bitcoin... only cash. It's a side bet.
And the cryptos markets are still the Free Market. We buy and sell at whatever prices we believe are reasonable.
The only possible connection I can dream up is that institutional investors are buying/selling bitcoin at the prices of the futures contracts, but nothing is forcing that price.
I know I've stopped buying bitcoin segwit (aka core) because the fees are too high and I'm only buying low volume, and instead have shifted over to the alt coins.
How many other people have done the same?
And if you look at the last few years, January has always been a down month for bitcoin.
I like Crypto Blood's explanation in this video:
What do you think? How can the bitcoin futures possible affect the prices at the exchanges, especially since each exchange carries its own price and demand. Every country has it different too.
You can flood bitcoin with fiat dollars, and that raises the price. You take them out, and the price drops back down to the regular demand (not zero)... hence the overall trend for bitcoin is still going up.
I'd love to hear your thoughts!
Good fortune to you, and as always, thank you for sharing your Light with me.
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