Unfortunately, the derivative markets tend to drive the prices of the underlying assets since, ultimately, that market gets so big. We see this with stocks and commodities and, I believe, crypto will end up in the same boat. When you consider the hundreds of trillions of dollars in the derivative market it is easy to see how this is so.

In the short term (two years or so) we will see bitcoin explode (along with other cryptocurrencies. The reason for this is because to short the asset, someone else needs to be on the other side of the trade, meaning the asset needs to be bought first.