Now that the Wall Street shorters of Bitcoin won this round, here's what I think is next.
Okay, so it's no surprise that Wall Street got in big once the futures launched, and since they have so much manipulation power via their massive money reserves, my guess is that they moved the price of Bitcoin where they wanted to, in order to profit on their short contracts.
Now that they have their easy gains, my guess is, is that they will now bet on the long contracts, which will move Bitcoin much higher, and until Bitcoin is worth trillions of dollars, I believe that they will easily be able to do this over and over again.
What are your thoughts here, am I just nuts, or am I on to something here?
That sounds logical. Therefore it most likely it is NOT the path they will take. They will more likely take it down further and only when people are giving up and the price has been decimated will they buy in strong.
Interesting theory, but wouldn't they risk people giving up on Bitcoin if they take it down further, so wouldn't it make more sense to go back and forth, to give people hope?
We are still in the crypto addoption stage. I posted a small study about world adoption at this time. If my numbers are even marginally in the ballpark, we are still below 3%. So there is no way people will give up on BTC . Friday is the CME January future contract expiration. This week could get interesting.
Is it this Friday?
Per CME website, contracts expire on the last Friday of the month, so January contract would expire this Friday 01/26/2018
Oh dang, those boys are probably going to clean up!
Based on Elliot waves, BTC is just beginning the last leg down in the correction which may take until February 10, plus or minus. Get some cash ready to deploy.
Ha ha, go check out the post I just dropped, it pokes fun at chart theories.
They will use every strategy and trick in the book and out of the book to make profit.
Ferengy Rules of Aquisition #9 Opportunity plus instinct equals profit & #10 Greed is eternal.
Can't say that I blame them, because their sole-purpose in life is to make money, and they aren't doing anything illegal, so this is definitely going to be interesting to watch!
these banksters... you see it just in the right way, its sad tho...
They ruin everything.
BTC has soooo much room on the south.
Once they crashed BTFD crowd we will see levels less than this bubble start. I don't know whether bitcoin would survive such a crack.