When you say typical it means it has happened many times in the past...can you give some examples ??
Also you're forgetting one thing, all the talk about CME fueled much of the rally to 10k and then to 20k.
I yet have to see a real example on how shorting bitcoin futures is affecting the price ?
Settlements are not made in BTC it's just a parallel market, just because people are shorting it's no trigger to sell.
Exactly,bitcoin futures will not have any direct effect on bitcoin price.It would just exist as a parallel market like oil futures,gold futures.Also you're forgetting one thing, all the talk about CME fueled much of the rally to 10k and then to 20k.
I yet have to see a real example on how shorting bitcoin futures is affecting the price ?
Settlements are not made in BTC it's just a parallel market, just because people are shorting it's no trigger to sell.
More over,OP is getting happy that coinbase is going to list BCH.But remember,coinbase has said that all the users who had bitcoins stored during BCH hard fork would get access to free BCH coins during january 2018.This means that there would be a huge volume of BCH supply in the market during that time.Surely,users would try to dump all of their BCH coins at once which would definitely make BCH price crash.For this reason only,more people are rushing towards buying BCH as soon as possible and enjoy the ride and sell it before coinbase issues free BCH coins.That's the only reason for price increase in BCH.
Thanks for the responses to my original post. I guess it's fascinating times these days. Apparently my original post was misconstrued as some fragment of the enormous debate going on over BTC and BCH. My original post had nothing whatsoever to do with this raging debate - sorry. I don't have an opinion about BCH and BTC because I'm not qualified. I'm just some old tech guy who became fascinated with blockchain technology to the point at which I needed to start a podcast just to provide an outlet, because I was bugging my family by going on and on about it. And in becoming fascinated by it, I happen to watch a lot of news - or I should say I get it fed to me, like we all do these days ... and I see plenty of sudden references to the fall of BTC pricing right around the time that we see other news articles about "Hedge Funds Preparing to Short BitCoin." It was just an observation about media and markets. Nothing else. And for the record, guys, I LOVE the concept of Bitcoin. Madly. I don't hate it. I have no opinion about BCH because honestly as I said, I'm not qualified to opine about it. As someone who has watched news for 50 years and traded futures for about ten of them, I am qualified to opine about media and markets.
Thanks again for responding, though .... Best Wishes and Happy Holidays...
