Bitcoin, Futures, and the Ghost of Gold A forecast for bitcoin if it follows the post-futures cycle of gold.
Great article, thanks for sharing. I never thought not even for a second that bitcoin futures would have killed bitcoin, although they played their part in the following price drop.
Very interesting the parallelism reported with gold and the consequent future prediction of bitcoin prices, assuming, however, that we have reached the minimum on April 6, with $6700.
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However, many lauded the move and took this as a sign of institutional acceptance. Futures gave Bitcoin an air of legitimization and were one step closer to exchange traded funds (ETFs). More money would come in. Prices would go higher.
I just want to point out the fact, anyway, that the impact that Bitcoin ETFs will have on the market will be very different compared to futures, when they are launched. In my opinion, it's just a matter of time and this will happen. Bitcoin futures are merely speculation and there is no direct connection with the underlying asset. For ETFs will be different. They are not seen as speculation, but as a form of investment.
The presence of ETFs on the market will help a lot to spread the word of bitcoin to the masses, in my opinion.