CME Bitcoin Futures And It's Impact On Bitcoin

in cryptocurrency •  7 months ago

Understanding how Bitcoin Futures will affect the price lately is quite a challenge for many of us. So in this article i've compiled dozens of youtube comments from Chris Dunn' video "Bitcoin Futures: Good or Bad for Cryptocurrencies?" wich can give us at least some glimpse as to how could that play out imho.

"This is the reason why i've been screaming from the mountain tops that wall street are wolves in sheep clothing....high frequency traders are going to just destroy think volatility has been high now, haven't seen nothing....i hoped they would cancel it..i know it sounds crazy guys, but you have to think of why BTC was was created to prevent large banks and institutions from manipulating it and having it's hand on it..(atleast that's my opinion) everyone just sees dollar signs, but this could turn into a massive problem...when large institutions and hedge funds want to crush the price to flush everyone out, they will do it..and i don't mean crush, i mean really fu$%n crush this market...but once it gets in the trillions market cap it will be harder...this is why i left futures as well...i did well but i wanted something with an organic system where the little guys could build a community and have millions of small players...just be careful guys and hold instead of short term trades..your ass will be handed to you if you don't know what you are doing...thanks for the video Chris"

"I don't agree that it opens up potential for manipulation, or the inference that manipulation will be a problem. In fact I would say it will be the exact opposite, through hedging. Hedging will have the effect of stabilizing Bitcoin price."

"Big boys on Wall Street can/will invade and destroy BTC, because everything they touch eventually turns to $hit."

"Was only a matter of time before the rotten rats figured out how to get involved and begin the manipulation."

"Just like they did to precious metals expect massive manipulation, this will weed out the little guys in the hands of big financial institutions."

"Naked Short Selling = Market Manipulation to drive price down by Hedge Funds. Hedge funds use rumors and journalists to spook the market and drive prices down."

"The futures market and stock market are separate entities. I can't buy futures with my stock market account. BTW, there has been a Bitcoin ETF on the stock market for some time now, so stock traders have been able to trade it. The futures price will be the overriding price, once this occurs. Your Coinbase and other crypto websites will have to adopt the futures prices or else they will just disappear. Kinda like Kitco vs the Comex, with precious metals."

"Beginning of the end of bitcoin price. Look what the LBMA did to silver and gold. They will short and long futures when they own nothing. All futures do is provide an avenue for manipulation by flooding the market with short or long contracts to control price swings. This will be the only way to control bitcoin. My only question is what happens to other cryptos in relation to the bitcoin price and if bitcoin becomes manipulated, will ppl move out and into a different crypto like ethereum or litecoin and then kill the whole bitcoin derivatives market?"

"BAD!!! We all like Crypto because it operates outside of the institutions that are keeping us safe Haha!! they use to call it Slavery.. Only 1 month ago J P Morgan was bagging out BTC, whilst buying it secretly on a euro exchange.. This is how these Dogs operate.."

"This is very bad news for Bitcoin. There will be heavy shorting with leverage. BTC/USD will see $1000 soon."

"Even if people short bitcoin, I don't see it being a downside, any publicity at this point is good given the early R+D stages of crypto and even blockchain technology. It could be like a 'lavar ball' type of thing at this point"

"Terrible - if they could not only come close to destroying the global economy in 2008, and yet manipulate down gold and silver to an unrealistic price for years since, when that market is 100x larger and mostly only a symbolic threat, how easily can they crush crypto into chaos and disillusionment with derivatives, what Buffet called 'weapons of mass destruction'? Very surprised at the generally naïve upbeat reactions so far."

"I thought all the time, government and banks cannot destroy crypto because they have to buy in and drive the price up, before shorting it with profit. But now they can short without buying in? That's the end. They have so much money. Btw if Bitcoin will crash, alt's will crash too. Bye Bye life savings."

"If they plan on operating a "bitcoin futures" with no ability to take delivery they are perpetrating a fraud right out of the box!"

"I think it's bad for bitcoin but good for cryptocurrencies in general. This will obviosly create hugh problems for bitcoin, and as long the big traders can make more money with bitcoin than with fiat these problems aren't solvable. But when bitcoin fails altcoins will rise and cryptocurrencies will get alot of attention."

"Ya all know that the investors most likely wait for the Bitcoin-Futures? Means that they do not invest into the underlying value, the Bitcoin, but the Paper basing on this. Its the same thing how gold prices get supressed and managed by the big money. Control the price of the futures and you control the prices of the underlying asset. I think this will slow down the uprising of the bitcoin and makes it less volatile."

"Futures trading shall be Good for Bitcoin and Altcoins. All those who say Bitcoin is a bubble, are welcome to short it in future & watch the fun."

"Futures are used to suppress the gold price. Might end up suppressing BTC price too...."

"I think its good. This was bound to happen with the process of crypto mass adoption which everyone clearly wants."

"Bad bad bad. For me, the purpose of block chain is that it cannot be diluted or leveraged. ie. fed can print cryptos out of thin air. with futures block chain price can be manipulated. they can also control the price with big shorts. it would allow the investment banks to game the system. manipulation."

"The real world example of how they manipulate the markets is the massive "naked short selling" of the gold and silver markets..!! If gold was to go to it's real price the US dollar would disappear tomorrow or raging inflation would cripple the US economy. Hence the US dollar is actually backed by the US "military industrial complex"..!!"

"So Bitcoins whole point is that it is decentralized and the power is in peoples hands. Now, since the big players on stock market, banks and etc cant directly affect it, they will introduce "features" like BTC futures and more to come likewise in future (I assume) to mess it up indirectly. As they said, they want to tame it. They definitely do not want this to happen and they want to keep their power it seems. So for that reason, I do not agree with this thing at all. Plus whatever Coinbase is doing now I am unkeen of. We had a good thing going I believe, I hope it wont get fucked up. What do you guys think of all this?"

"Is actually the opposite. Because it's cash and not bitcoin, arbitrage is not possible between the futures and the bitcoin market itself. Bitcoin price is isolated from shorts. All wall street is going to do is use this as a hedge. They can't do anything with bitcoin except buy and sell, like everyone else."

"how lovely would it be to see a bunch of nerds short squeeze billions of Wall Street dollars when BTC starts to moon"

"Futures will destroy Bitcoin, with its high frequency trading bots, they will create so much short term volatility that short term trades will get eaten, just like in the stock or futures market. Once this high frequency algos control 80% of the volume, as they do in the stock market, it is time to find a new market. I can now see the case for Bitcoin Cash to take over Bitcoin."

"Hi Chris, thanks again for this great and informative video. I believe that over the short to medium run futures on digital currencies are a bad thing as governments will have a tool available to manipulate the price downward to influence public opinion. This way government will be able to buy time and launch country cryptocurrencies and make the ppl believe they are equivalent or even better than BTC. The constant price manipulation of gold and silver contracts by wall street firms over years does not bode well in this respect. In the long term real supply and demand will determine the price of bitcoin that will eventually go into stratospheric territory in the next global financial crisis. So my advise for hodlers to hold, new investors to stay on the sideline for now and get in at lower levels and traders be alert for greater price swings and adjust risk management strategies. 2018 could be repeat of 2014 with BTC prices on the back end of the current trend..."

"Bitcoin futures: dominating crypto by centralizing it through cheap fiat money.... brilliant!"

"Good for trader but bad for the long term. It's gonna be like the gold market."

"Price action is fine the way it is now. I’m making a killing. But I never made a dime trading futures. Why? I now know that it was because I was overleveraged and couldn’t withstand even the smallest move against my position. Plus there’s tons of manipulation in the futures markets. I don’t think it will be good for bitcoin. It definitely won’t be good for me."

"The government can not confiscate bitcoin so they will manipulate and suppress the price"

"I think this will be very interesting, and to me as an individual trader, will present a challenge for me to compete and keep up with these big trading firms. I see it as an opportunity to have some fun, learn, grow, and develop"

"will tame it" = will make it less volatile more choppier = Bad for us traders.... they wanna turn int into an untradable market, whipsaws all over the place, fuck the CME, they will completely ruin the market for us."

"Success of BTC lies in its average gains and the transparency, only something with better gains and similar transparency can win, and those are not that fat ass Wall Street morons who just have a better access to important news and money to manipulate"

Whats your opinion on Bitcoin Futures?

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Bitcoin was taken over by Blockstream representing big finance years ago. This is just a natural progression of those events.

Opa krenuli smo stimat :) imaš moj upvote

I agree with you on how big institutions are playing the bitcoin using their horrible tool called futures .. really destroying the essence, the main idea/ goal of bitcoin - no institutional forces on them ... nice wall street ... guess can't escape the oligarchy..