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I wanted to short bitcoin, I predicted a price correction of -50% after the CBOE and CME futures came online, and well, here we are. Unfortunately I can't post
by buttcoinslol 9y ago
I wanted to short bitcoin, I predicted a price correction of -50% after the CBOE and CME futures came online, and well, here we are. Unfortunately I can't post 200% margin even on a 20k contract :(
edit: The futures markets may not have even been the catalyst for this drop, more likely it's this: "The market has also been artificially pumped up by Bitfinex and their money printing machine Tether."
- 52-6F-62 9y agoI've been looking into it after hearing a few thoughts this morning. I think its even more likely that: The timing of increased volumes and the beginning of bulk selloffs times pretty closely with the announcement of a large hack in South Korea — and exchange called Youbit. They've completely shut down. South Korea is a huge market. https://themerkle.com/youbit-hacked-again-closes-its-doors/ https://themerkle.com/youbit-hacked-again-closes-its-doors/ https://coinmarketcap.com/currencies/bitcoin/historical-data/ https://coinmarketcap.com/currencies/bitcoin/historical-data... > The South Korean National Intelligence service believes that North Korean hackers were behind that attack, as well as a separate hacking of South Korea’s largest exchange, Bithumb, back in February. The Korean Internet and Security Agency is currently investigating Youbit’s most recent attack.
- buttcoinslol 9y agoInteresting, thanks for the info. 24 hours later, the priced has recovered 33% from the 12k low to 16k.
- 52-6F-62 9y agoIt was a weird little run
- rc_bhg 9y agobitcoin was just overpriced a little. that is all.