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The bitcoin ETFs on CME are cash settled. Plunge protection team likely feels safer with cash settled 'btc' than physically settled, because people can't stand
by landemva 5y ago
The bitcoin ETFs on CME are cash settled. Plunge protection team likely feels safer with cash settled 'btc' than physically settled, because people can't stand for delivery to break the back of PPT manipulators.
It appears cash settled futures were put in place in 2017 specifically to break the bull market in btc at that time. It worked.
- javert 5y ago> It appears cash settled futures were put in place in 2017 specifically to break the bull market in btc at that time. It worked. The price was totally unsustainable given the amount of supply entering the market daily due to mining. An insane amount of money would have had to flow into bitcoin every day to sustain those prices. At least, insane given the size of the bitcoin market at the time. There is no need for any other explanation for why the bull market ended in early 2018.