Topic: Bakkt launching on Dec12, is it will start a bull run? - page 3. (Read 693 times)
Here we go again. Another service provider ready to start giving false hope by raising expectation that would not be fulfilled. I wonder the volume of future contract that this platform wants to make available that would be significant enough to make much impact to push for the beginning of a bull run as being speculated. Expect the normal gradual increase in price that is being witnessed with its accompanied volatility, the only news that could mean a huge push is the ETF approval which is not even certain.
That is just futures and if we have seen enough of the futures so far and how they affect the prices of bitcoin I think just futures would be really scary for all of us. Even with bitmex that is basically our own we are still seeing a lot of people betting on bitcoin going down and whales spending millions of dollars into short futures and trying to keep the price as low as miners allow them and try to make as much money from it as possible.
Futures are creating a conondurum which allows rich people to both sell bitcoin (create capital for themselves) and at the same time buy short futures with that same money and make double the income. Whereas if they want to make money by buying long futures they would have to both buy bitcoin to increase the price (costs capital) and buy long futures at the same time (costs capital as well) which means they need to spend double the amount for probably even less profit.
Futures are creating a conondurum which allows rich people to both sell bitcoin (create capital for themselves) and at the same time buy short futures with that same money and make double the income. Whereas if they want to make money by buying long futures they would have to both buy bitcoin to increase the price (costs capital) and buy long futures at the same time (costs capital as well) which means they need to spend double the amount for probably even less profit.
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