Hueristic
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Doomed to see the future and unable to prevent it


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June 24, 2019, 07:33:13 AM

CME will open in an hour... will be interesting to see what happens; must suck to sit on a short and not being able to get out over the weekend  Tongue

Does somebody know how the price limit works? I mean halting BTC futures trading will not get BTC price changing.
Will the be forced settlements?

Thanks, I'm looking forward to this! Smiley


CME will open in an hour... will be interesting to see what happens; must suck to sit on a short and not being able to get out over the weekend  Tongue

Does somebody know how the price limit works? I mean halting BTC futures trading will not get BTC price changing.
Will the be forced settlements?
here Smiley i like that:
must suck to sit on a short and not being able to get out over the weekend

not sure what you mean with how "the limit works"
when futures trading opens there will be i think gap up, instant gap up
so if shorters had close limit on 10500 and gap up instantly put price to 11000, they will close with 11000 and not with 10500...at least i think so

Good question.
Can they sell if the limit is hit? This would mean that the longs are forcefully pushed out of the contract?

Could be setting up for some major carnage at the CME that's for sure. ... bulls have got it back to the AYH right before the open too so it might spark a massive surge up on the short squeeze at the open.

When CME went live with the contract in Dec. 2017 I recall an ex-CME head or regulator warning that CME had never dealt with a truly hard asset like bitcoin and it was a real risk for it to cause major failures ... which is a joke because he was admitting that gold was not a hard asset in the way it has been papered out of existence.

Edit: meant to add that there will be a battle to get it back closer to friday's close before the open to stem the bleeding.

Nice post, this deserves some merit guys. Hey roach wanna Merit this for me?
Wait don't answer I won't see it.
Meh while I'm at it here's something for you.
https://cointelegraph.com/news/report-two-israeli-brothers-arrested-for-hack-of-bitfinex-crypto-exchange

Quote
During the raid, the police reportedly found a cryptocurrency wallet containing significantly less funds than the amount that the two are believed to have stolen. Finance Magnates also notes that Eli Gigi is a graduate of an elite technological unit of the Israel Defense Forces that selects youth with outstanding academic capabilities.