This post was most recently updated on December 5th, 2018
“Institutional money is going to flood into Bitcoin”
“Bitcoin is taking over the world”
Those are phrases we hear frequently. Meanwhile, JP Morgan, Goldman Sachs, Citi, Merryl will start printing Bitcoin photocopies from Futures cash settlement contracts. And institutional money is going to flood into PAPER Bitcoin.
On 17 December when Bitcoin hit the ATH, CME launched Bitcoin Futures, and since then bitcoin price did never recover, traping in a lot of people who bought at the top.
On July 2018 Bitmex added ETH-USD Futures and everybody knows what happened to the Ethereum price. Ethereum price was about $500 in July and in September went under $200
Here it is a chart pointing the date when ETH-USD Futures was launched on Bitmex.
Big players and big financial institutions suppressed Gold price since 1980 (when Gold price peaked) otherwise gold price could have been much more hight. It has technically been suppressed since then.
Bitcoiners are confident that Bitcoin will not be suppressed (even when they see Banks printing Bitcoin with the derivative instruments).
Don’t let an inflated currency like the dollar trick you.
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