Where are all the fractals?Hello, I do not understand. I saw every day a new fractal showing that the price of ponzicoin would go up.
But now, that we are in a situation exactly similar to Dec 2017, there are no fractal. That does not seem very objective...
It's almost depressing, that the human gene pool contains "this".
BTC went up up up until CME futures opened and then down down down.
The top was the exact day when CME BTC futures were released.
BTC hodlers are repeating the same thing. Exact same scenario.
They are convinced BTC will go to a mighty bull market because of ICE futures. Emmm ok?
I do not think I am being unfair when I say they are thick headed.
Of course, I see these clowns repeat "Bakkt bakkt" I got a feeling that they do not even know what it is.
The futures market is in a duopoly, CME is the biggest one, ICE the other one.
CME GROUP INC ==> 73.7 Billion Market cap. (Chicago Mercantile Exchange). Big on indices, fx, metals, energy futures. Also big on certain agri (Corn Wheat Soybean).
ICE GROUP INC ==> 50.95 Billion Market cap. (INTERCONTINENTAL EXCHANGE INC). Afaik their only big futures are the "other" agri Sugar 11, Cotton, Cocoa, Coffee.
(Actually the 2nd biggest futures exchange in the world is the National Stock Exchange of India and ICE is 3rd, CBOE Holdings are 4rth far behind - 12B mcap - they opened BTC futures the 7 dec 2017).
The ICE is known mostly for the New York Stock Exchange.
The CBOE is bigger on options I think.
The big big futures exchange is the CME.
They have a great site with a ton of content, their products work very well.
I expect ICE futures to do less volume than the CME past the potential hype of the first days, even with all the marketing they did.
BTC might pump short term (good short entry on a double top at 14k) but idk the world has their eyes on Iran and oil lmao no one important will care about your magical internet beans.
I expect the launch to be a complete failure and after that nice flop the ICE will remove BTC futures just like the CBOE did, and only CME will remain.
Just like with all US treasury bonds.
And with all US indices.
And with Oil and NatGas.
And with Gold and Silver.
And with Grains.
And with Copper.
Hehe.
Here is the CME site: www.cmegroup.com
They have daily volumes of about $250 million on BTC (past month).
Coinbase does about $100 million, Bitstamp about $65 million, Kraken $50 million (not counting the euro part that is about as big).
As a comparison, (WT Sweet Light) Crude Oil futures have volumes typically of about 1 to 1.5 million futures a day on the CME, in dollar this means, since the price of Oil is and has been around $60 - 60 million. Nah just kidding 1 future = 1000 barrels, so it's 60 billions. Idk how much brent does, they are mainly traded via the ICE, their site... I just can't... They do 20 times less I think.
E-mini S&P futures do about 2 million contracts volume => 300 billion :D
Gold futures make about $75 billion
10Y Treasury Notes ~ $350 billion I think (and volume oscillates a ton). 1400 times more.
Natural Gas (Henry Hub) that is half as volatile as BTC (sometimes more) does ~$13 billion (not counting options and other products). 50 times more.
Even Grain no one ever talks about that have 3 followers does way more than 1 million reddit subs biggest community than all stocks put together Bitcoin.
These days Corn is doing ~5 billion+ Wheat ~2.5 billion Soybean ~9 billion. Rekt.
And the CME is putting crypto forward. And they are the biggest. Big money is not stepping in. Big money still thinks it is a ponzi.
No one that knows what they are doing cares about magical internet beans (other than to make fun of it).
Even with the immense amount of hype and the massive fanbase around Bitcoin, BTC futures do tiny volumes compared to obscure products such as "RBOB Gasoline" (50 times more volume than BTC, what is this even? xd), "Soybean Oil futures" (even this does 10 times BTC) or "Live cattle" (20 times).
Even Mont Belvieu LDH Propane (OPIS) Futures does more than BTC :D Does anyone know what this thing even is? LOL!
NY Harbor ULSD? I have not a clue what this is, but they have 60 times the volume of giga hype every one talks about it BTC.
Single stocks during the dot com bubble had more volume than BTC as we know anyway.
Keep praying that suddenly big money movers are going to get interested after ignoring your ponzi scheme for years, just because the ICE offers a new way to speculate on it, and gave it its own name, and did alot of marketting. Let me quote Nelson from the Simpsons: Haha!
