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RE: Are We Out of the Bear's Woods Yet with Bitcoin?

in #bitcoin6 years ago

Give the futures market time to finish their drive down on the price of bitcoin. Then it may naturally begin to rise.

The problem as I see it is that now that futures markets are demonstrating influence on the price of bitcoin, the banks can print as much money as they want and use it to buy bitcoin futures. And since December, a good fraction, if not most of the futures contracts have been short.

The way for bitcoin (and every other crypto) to escape the bears at the futures markets, is to generate the transaction demand necessary to move the price up. Bitcoin is so slow relative to Visa and Mastercard, and a few other high speed currencies (Steem, EOS and Bitshares come to mind), that I really don't think that bitcoin can escape the bears on the futures markets.