Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

Help me with your thoughts on bitcoin futures.

In February I started to think if they are bad for bitcoin (because bitcoin remain bearish since introduction of futures).
Now i think they are bad, but probably not on extremely long turn. On extremely long term they are probably good (in years 2019, 2020)

But on short term (this year) i think bitcoin futures are bad. Why bad?
Because all the sudden people with a lot more money then those in crpyto can draw and earn money with hedging and drawing money from "little people with less experience". They wont take money from true hodlers who just hold, but bitcoin need new people in order to go up and up and crazy up, and experienced hedging companies could for quite some time draw price down and they have more knowledge whats and how much is needed to cause spikes down with help of futures.

Can someone help me dig out how much money is now in futures?
http://www.cmegroup.com/trading/equity-index/us-index/bitcoin_quotes_globex.html
For may its i think 3000 contacts? now i wonder how much money is in that

If 1 contract 100 bitcoins? 900k USD? and there was  i think today 3000 buy/sell (or with other words 3000 combined going long + going short)
So 3000 times 900k usd = 2,7 billion USD in one day

Am i gettting this right ? i think not

I didnt get any repond so kindly if someone can answer me this please I would also add I am assuming (perhaps I am wrong?) bitcoin futures are direclty tied to bitcoin. So I am under assumtion if someone opens large volume of shorts for bitcoin futures, they go down, or if someone opens large volume of longs they go up ?

I believe that the main point is that futures brings credibility to the bitcoin market and allows additional tools for BiG and Traditional money to get in through investment vehicles that are comfortable to them.   I doubt that there is any necessity to go through all of the numbers in order to understand the overall bullish effect of having traditional financial vehicles in bitcoin - even if those vehicles allow for the shorting of bitcoin.  Ultimately, bitcoin has it's own supply limitations, so any pressures to buy bitcoin is going to cause upwards price pressures until bitcoins reach a certain level of saturation, and even if peeps are willing to pay premiums on being able to use some of the traditional investment vehicles, the direct ownership of bitcoin is likely going to be more valuable and empowering - especially for regular Joes who are willing to learn about bitcoin and learn how to safeguard their own personal direct holdings of bitcoin.

So, from my perspective, you can come up with all kinds of formulations and theories about how you might believe that the ability to short bitcoin is going to cause downward price pressures on bitcoin, but I am not going to buy those theories because with bitcoin, you have to buy it first before you can really cause the price to go down by selling it, and it seems that bitcoin markets are going to recognize some of the concrete value in holding actual and verifiable bitcoins.

[bitmover]

Lol this r0ach guy must be trolling. Wtf is that

[DaRude]

Notice Tim Draper begging CNBC for buyers hours before the dumps started? Thoughts?

Whales like Tim Draper can only sell OTC... If they would need to do it... which they don't because they are, well, whales.

OTC sales still hit the streets eventually. 8000 coins did this. Eight. Thousand. Coins. That's it. That's all it takes.

Yes, OTC sales indirectly influence the exchange price, of course. But I guess when one of those whales sell some significant part of their stash they do to someone they know it is in it for the long term. I don't think they just go to an OTC desk and blindly accept the first offer they get. I am just speculating though... but that is also how it works with high stakes in stock markets.

Also I don't think they usually sell during a more than 50% correction. They have all the time and money to wait for a better moment.

Kobayashi is a different story.... but he is not suppossed to sell any more BTC until after the civil rehabilitation issue gets decided on the court (september?).

Supply and demand, 'nuff said. Can't increase supply without moving the price and I don't care if you sell it OTC or to your neighbor's dog. Kobayashi was not supposed to have sold any more, but moving those BTC8k might indicate that he's not done selling yet. That spooked the market and now the possibility of all of the remaining BTC137k being sold is being priced in. Now have a beer and come back in 2021

[jojo69]

beer it is

[realr0ach]

Now have a beer and come back in 2021

Or maybe not come back:

[Elwar]

Lol this r0ach guy must be trolling. Wtf is that

Welcome to the Wall Observer thread, I see you've met the resident troll.


Please do not quote him as everyone has him on ignore. Because we're all jews.

[explorer]

I tried to research how much money was actually invested in crypto and few sources said that it's about 10% of indicated market cap. Yesterday Mt.Gox's Kobayashi presumably sold BTC equivalent of ~$7,000,000 and market cap was decreased for ~$70,000,000, is there any relation or it's just a coincidence?

If $7 000 000 worth of bitcoin was sold, that means another $7 000 000 was invested in bitcoin. 

[jojo69]

Lol this r0ach guy must be trolling. Wtf is that

Welcome to the Wall Observer thread, I see you've met the resident troll.


Please do not quote him as everyone has him on ignore. Because we're all jews.

shhhhhhhh

that is a SECRET man !

[Derpinheimer2]

How old is that poll? I just noticed it now and im guessing its.. not new, as the biggest bet is on 12k+ in 4 days lol

[infofront]

How old is that poll? I just noticed it now and im guessing its.. not new, as the biggest bet is on 12k+ in 4 days lol

May 1

[JayJuanGee]

How old is that poll? I just noticed it now and im guessing its.. not new, as the biggest bet is on 12k+ in 4 days lol

The poll is about 9 or 10 days old.  It was made around May 1 or May 2 -ish.

Edit:  (whoops... the source is the horse, and Infofront beat me to answering the question - over a minute faster than me... I'm too slow-poke)    

[infofront]

You need to step up your game JJG 

[PoolMinor]

You need to step up your game JJG 

           

[FractalUniverse]

nice sunny saturday morning. I can see we are still less than 50% of usual 2018 red week volume. this rather lazy market will likely get pretty wild in the next hours. get ready 

[Anon136]

Please do not quote him as everyone has him on ignore. Because we're all jews.

Better yet, quote him really really inaccurately. I bet that will get him going. Especially since he knows that no one will be able to see what he actually said or his protests, so everyone will just assume he actually said it.

[jojo69]

Trump is the King Jew!

When Enki defied the Annunaki it was fortold that the Trump would come.

Soon all will be required to bear their public key on their forehead or right wrist to transact any business.

like this?

[Toxic2040]

 

Accumulation and distribution patterns.


wen 3d charts famuli?

[Rosewater Foundation]

Yeah, we're just going to bleed all the way down. I'm about to go all Shroomskit in this mofo. I'm super serious right now.

[Rosewater Foundation]

Wake up! You lazy fuck!

[greensheep]

Yeah, we're just going to bleed all the way down. I'm about to go all Shroomskit in this mofo. I'm super serious right now.

it's going to stop bleeding at some point, but where is the bottom? huge buy wall at 8200, wonder if it's going to hold.
No real rebound yet