I don’t like seeing the market going down but this mtgox thing has been what everyone has been saying would drop the market for years. It isn’t crazy to think we’ll drop a little here. Still, I don’t like seeing the price go down. Maybe the devs can do something? Just kidding. More seriously, has anyone tried spitting on it?
everyone = OgNasty
FTFY
Nah, I can’t take credit for stating the obvious. For years people have been watching that BTC. Blackrock has built a multi-billion dollar short position. The market has dropped $13K, which is a massive slash off the market cap just on the news. I actually don’t think there has ever been a period in history where Bitcoin has had such a large total market short position. While this is bearish short term, long term those shorts will have to be covered eventually. That means future demand. Make no mistake about it though, the big boys have bet billions on the mtgox distribution and so far they’re rolling in profits.
Where is a proof of that?...pure hearsay..based on some crypto twitter noise?
The company cannot short it's own ETF-it is called self-dealing and is, ostensibly, illegal. Some associated funds can, of course.
That's not shorting in a common meaning of the term, more like market-making
..if someone buys, then someone has to sell and if there is no investor currently selling, then to smooth the market, market maker sells from their inventory or otherwise so a buyer can buy.
Whatever you say buddy. That isn’t even how they would short the market, I was just proving your statement wrong. What evidence do you have that Blackrock didn’t go short when they discovered that billions of dollars in Bitcoin was going to hit the market?
I hate that I have to be the bearish guy because I’m as bullish as they come, but ignoring all the evidence of what’s happening is just weird. If mtgox wasn’t an issue, we wouldn’t be watching the price fall. It’s ok to admit you’re wrong.
Really...bullish? I keep hearing about mtgox from you the last month or two on a regular basis.
