Just as we thought the market was starting to make a recovery it seems to have dropped off again. The pattern seems to be repeating itself as a new set of futures are preparing to end. Just like for the CBOE contracts we saw a big drop off on Sunday night. This lead to a week long bleed that is likely to repeat until the 26th when CME futures end. This is one of my major worries when I heard about futures being announced at the end of 2017. This allows for major market manipulation by the whales. They can essentially drive the price down just before futures end, making gains on their shorts and cashing out profits. Then allowing them to buy back at a cheap price and ride the profit train back up. In times like these I personally cash out everything that is in profit or up to a 5% loss on. Let it sit in USD until the market begins to recover. Buying back the BTC dip, gaining you more overall BTC but also allowing you to buy your alt positions back on the dip as well. It's a win win if your looking to protect sats or even make some money in a bearish market. Stay safe everyone and happy trading!
- I am not a financial adviser, always do your own research. These are just my thoughts, opinions and personal strategy's