Do you think then that institutional players were already large holders of bitcoin and have been involved for quite a while, so they manipulate the price for their contracts? Or could the decline be better explained by the general speculative nature of bitcoin and the unsustainability of that bull-run to $20,000? Interested to hear your thoughts because I was also skeptical of the cash settled futures contracts having an affect on the price m...
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I think some getting in was part of that run up late in 2017. They loaded up, helped push the price up as high as they could, loaded up on puts and short bets, then sold their holdings and watch the market tank and their short bets pay off 10X...
Thanks for the reply @jrcornel