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Novice crypto question... I read a comment here about 1 month ago someone predicted a correction of BTC value to mind january because some coins would "expire"
by shroom 9y ago
Novice crypto question... I read a comment here about 1 month ago someone predicted a correction of BTC value to mind january because some coins would "expire" then. I'm trying to find the comment now to learn more. Anyone have any insight what I'm talking about?
- panzerboy 9y agoProbably those futures somebody was mentioning in another comment.
- HenryBemis 9y agoPerhaps it was not BTC or cryptocurrencies expiring but "investors" (gamblers) betting that X or Y commodity's value (gold, oil, USD, EUR, BTC?) will be on $Z, and the closer they places their bet on value Z the more money they make.
- bby 9y agoLook at the CME/CBOE open interest. It's not significant. LedgerX and Derivit have shit open interest as well for their futures/options.
- eqmvii 9y agoThey're talking about futures contracts, which are created with explicit end dates for delivery (or "delivery") of the underlying asset. I believe first officially listed and traded Bitcoin futures contracts were issues in December, and (some?) have expiration dates around now. Prices around expiration dates can get quite volatile, as traders with large positions maneuver to maximize profit or minimize loss.