it is called Chicago Mercantile Exchange not the Whole World Mercantile Exchange and bitcoin is a global currency with a global market. the drop would have happened without the Futures Contracts too, just like many times before in the past 9 years that we had the similar situation with a big rise and a follow up prolonged drop.
to be fair it may have contributed to the drop but to say it was the cause (like some people say) is wrong.
Topic: Interference of the future contract to bitcoin (Read 171 times)
The highest bitcoin coincides with the futures contract on the Chicago Mercantile Exchange (CME). However, after bitcoin prices continued to decline, by the end of May, bitcoin prices did not return to their peak levels before the futures contract. Do you think the launch of bitcoin futures allows pessimists to enter the market, contributing to the bitcoin price move. What is the future of the market?
the market has a trend to increase, but well has bad moments too
just look at the news!
https://btcmanager.com/south-korean-banks-to-utilize-blockchain-for-digital-i-d/
this is the future
The highest bitcoin coincides with the futures contract on the Chicago Mercantile Exchange (CME). However, after bitcoin prices continued to decline, by the end of May, bitcoin prices did not return to their peak levels before the futures contract. Do you think the launch of bitcoin futures allows pessimists to enter the market, contributing to the bitcoin price move. What is the future of the market?
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