Jump to content
Sign in to follow this  

Bitcoin - $12,400 crossed - Futures Trading Next

Recommended Posts

For me it is not a surprise that Bitcoin has hit $12,400.00. The surprise for me is the pace in which it has hit this level. It is just simply staggering. This is when a lot of 'Joe Bloggs on the street' still do not know what Bitcoin is, what Blockchain is and what Cryptocurrencies are. It is frightening what could happen when or if they do.

 

In the next few days Bitcoin Futures trading is going to be available. This means Bitcoin could be shorted by the Hedge Funds. This will bring at some point equilibrium in the Bitcoin price and a small bit of normalisation. However it is anyone's guess which way Bitcoin will go once futures trading is available. Any future drops could be more lethal and big. The price moves upwards could be more dramatic and large. Who knows.

 

When someone suggested $20,000.00 Bitcoin price recently I thought we were years away from it but it could come quicker and closer than we all think. What I fear is that the greedy speculators and Hedge Funds will drive up the price using futures to $20,000.00 so that they can short the **** out of it and make lots of profits going down. That is just an assumption but it will be interesting to see what happens.

Share this post


Link to post

Interesting. I too thought this year would see btc rise to around 5k...astounded by how fast its gone from 7k to over 12k. What is driving this pace? I think a fall is immiment, it must be. Will be interesting to see what happens next. The next fall will be followed by a surge i think as everyone tries to get in on a perceived discount.

Share this post


Link to post

There is a possibility that when the futures market opens on Bitcoin that there happens to be more people who open long positions than short. If this happens then the Bitcoin price will continue to go up unless more people are selling or shorting. 

 

I have no idea what the outcome will be but if the longs win the battle then this will be hitting $20,000 rather soon. Otherwise there could be a big drop down to $10,000 at least.

Share this post


Link to post

,  The futures market opens on Dec 18th. Given the big rally on the announcement of futures trading it would not be surprising to see a 'buy the rumour, sell the fact' type drop in price once it has opened, Just a thought.

Share this post


Link to post

Yes Caseynotes is correct, Sunday is when futures on Bitcoin open. 

 

What Caseynotes suggests is a possibility. Who knows. However, the speculators and Hedge Funds could easily take this beyond $20,000 or as high as possible before shorting the **** out of it to maximise the returns. Then they keep repeating this exercise as many times as they can and the media will call it volatility but the Billionaire Hedge Fund gurus will know it was pre-conceived execution of strategy.

 

 

Share this post


Link to post

Thanks both. I managed to get a couple of long positons opened in the 15k region...so i could live with 20k plus quite soon. Still got my shorts running at huge losses....my net position is still a big loss. But not over until my trades are closed. In the meantime, my longs are feeding the losses on my shorts. Guess this is what happens when you set up trades in between nappy changes and night feeds during maternity leave!!

Share this post


Link to post

Will this Bitcoin Future be available on IG ?  If it will be i hope it will mean more capacity to actually trade,  as i see so many of us are struggling to open long positions atm using the current listing.

Share this post


Link to post

At the moment IG have the edge. They are the house. The house always wins as gamblers would say in a casino. 

 

When trading or investing in Bitcoin or any Cryptocurrency you need an edge. To obtain that edge you will need to do plenty of reading on Cryptocurrencies and the technology underpinning it, Blockchain (DLT). 

 

Once you have a better understanding than the majority the odds on you gaining an advantage against others increases. You then need to study how the price of Bitcoin behaves compared to other assets. How Bitcoin behaves on economic and political news around the world. When you understand how Bitcoin has historically behaved against certain things it increases your edge if you can then use this information to make an informed decision. 

 

Whilst you are doing this you need to read up on future upcoming events and use your experience and knowledge to determine the direction of the price of Bitcoin based on these upcoming events. Whilst you are doing this you are constantly learning, adapting and being flexible depending on the price action and volume of trade in Bitcoin.

Share this post


Link to post

I would just like to add, you must have a plan and know your exit even before you enter Bitcoin. Risk management will be crucial to ensure you keep your losses to an absolute minimum and there will be losses but you need to embrace them and learn from them. You need to let your winners run so if you have a winning Bitcoin position then let it run until the trend changes and the price action confirms this. Maximise your profits. Don't try and be clever and take profits too early and then see Bitcoin double in value before you were trying to predetermine what would happen to the Bitcoin price.

 

Risk Management - Worth reading up on.

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,615
    • Total Posts
      39,051
    • Total Members
      49,204
    Newest Member
    CookyS
    Joined 17/10/19 08:35
  • Posts

    • yes, keep away from ftse and gbpusd until brexit is sorted, yesterday was deal done, then last night no deal, then this morning deal done at 2am news released about half an hour ago, that's why it's all over the place. look at these dax and ftse HA M5 charts.  
    • Dax moving up to test yesterday's highs, Dow powers up to the pivot, if Dow can break the pivot Dax should see R1 H1 charts;
    • Not got anything out of the market today either. Gonna look for new strategies, different assets, different timeframes, ... Any suggestions welcome. Also probably back to Demo for a while.
×
×