The latest reports on the course of Bitcoin are somewhat sobering. With trading at a fevered pitch and Bitcoin soaring, the top cryptocurrency will test its next plateau.
Next up: Wall Street.
Now that Bitcoin futures are a done deal, with institutional money set to pour through options on the NASDAQ, CME and Cboe, the short-term future for Bitcoin’s market value will be impacted by big shorts. “Ordinary traders”, those individuals who got in during the mania, are set to stand on the sidelines as Bitcoin trading morphs and enters the inevitable derivatives dimension.
While government regulators promise to monitor Bitcoin futures and protect them from market manipulation, what’s next may be as complicated as The Big Short.
Writes RiversandMountains in an opinion column on yours.org:
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You are being set up to hold the bags for a Godshort by institutional money. Bitcoin is a disruptive technology that threatens the central banking regime on a global and most, most fundamental level. Whether Blockstream, who is owned and backed by them, controls all of Legacy, or not, it’s still enough of a threat that a roadmap and a plan has been laid out for its future and how to deal with, control, subvert, and subdue it.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.