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This seems like it may be a victim of the narrative fallacy, trying to make this one simple narrative explain the results of a complex system (the bitcoin marke
by tristanho 8y ago
This seems like it may be a victim of the narrative fallacy, trying to make this one simple narrative explain the results of a complex system (the bitcoin market).
Everyone has a pet theory as to why bitcoin crashed: regulation, "whales" selling large volumes at once, institutional investors, Futures trading, etc.
What's the real reason? It's probably a combination, and almost certainly more complicated that solely "bitcoin futures."
- formula1 8y ago- The ability to short (bet on loss) - Unregulated system for whales - already being considered a dirty currency by multiple Govs A whale can short, influence laws and create fud. The futures market made it so people can have interest in it falling not just hope for more rising. Theres a very legitimate reason why futures market changed the dynamic
- kmitz 8y agoI totally agree. Current pattern is very similar to the four-five previous bubbles, which the author doesn't seem to take into consideration or even be aware of. Besides, futures trading has existed a long time on chinese platforms before CME and CBOE joined the party. It really is a waste of time to speculate why bitcoin price is going up or down on such timescale.
- gst 8y agoAlso Bitcoin has been declared dead 299 times already: https://99bitcoins.com/obituary-stats/ https://99bitcoins.com/obituary-stats/ Maybe the futures will have some impact, but I wouldn't be surprised if in hindsight it will turn out that futures didn't have any impact at all.