Shorts, longs, CME's and CBOE's. What happened to the crypto markets? Is the government trying to take over? It was bound to happen. With the introduction of Bitcoin (BTC) futures in late 2017.
Why is this happening? Well the US government wants a piece of this crypto craze. They will create tax income and at the same time it will bring in a certain level of control.
BTC chart from Coinmarketcap.com
A description of what the heck COBE's and CME's are.
https://www.investopedia.com/news/bitcoin-futures-cboe-vs-cme-whats-difference/
So how do we the small investor even keep our heads above water with whales at play? Buying and selling large amounts of BTC. They are manipulating the markets to their advantage.
Here is an idea. What if we the crypto traders stopped looking to BTC to be the big leader in this space. Why do we keep trading it? What would happen if the community as a whole stopped caring about the price of BTC? What if we turn to another coin to be the leader? If the community started to us LTC or ETH maybe even EOS or ADA. There is more then enough options out here to take over as the "store of value" Faster coins cheaper coins. Also with BTC being the only crypto the US stock market can short or trade. What do you think? If we start to trade one of the ALT coins instead of BTC will the market stabilize and stop being controlled by corporate investors?
Love to you hear your feedback on this. Could it work? Am I crazy? What coin should take over? Would it just create other futures contracts for any coins we pick as the new #1?
I much prefer Ethereum as Stored value given the majority of tokens are based on the Ethereum platform. It makes sense really rather than Cardano, which doesn't have a fully working platform yet.
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Yes I agree to a point. Can ETH handle the growth of the crypto world? Can it handle the masses of people that are coming this way? Will it just be slow and costly as BTC has become?
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Nice. You like ADA as a #1 pick?
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