Topic: BTC price and Bitcoin futures; today is important (Read 70 times)
I think that people expect futures to have more of an impact than they do which causes the downward trend. If a lot of people expect it to go down they will sell which will cause it to go down. I don’t think the futures market is big enough at the moment to affect the price of bitcoin in a significat way.
After the first part of big BTC price crash , one could find many posts in this forum mentioning numerous reasons, blaming Korea and China but it looked that mostly people just didn't know because this crash did not have clear news flash which could explain the drop as it has been many times in past. My explanation at the start was that bubble bursted and downtrend movement was exclusively because of psychological reasons. Maybe there is rational reasoning besides euphoric buying and fearful selling. Here is a chart of BTC futures launch and end dates.
The 1. and 2. period of upward movement could be explained by anticipation of future launch and following sell of after their launch. When CBOE expired there was a sharp drop and thus we could see the same today. What do you think guys, do Futures could have enough volume to impact BTC price so dramatically as in drop of January 16? And how significant Futures is to BTC market overall?
The 1. and 2. period of upward movement could be explained by anticipation of future launch and following sell of after their launch. When CBOE expired there was a sharp drop and thus we could see the same today. What do you think guys, do Futures could have enough volume to impact BTC price so dramatically as in drop of January 16? And how significant Futures is to BTC market overall?
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