Friday, 8 December 2017

Cramer: Bets against bitcoin will "annihilate" the digital currency once futures begin trading

quote [ Cboe bitcoin futures are set to begin trading on Sunday. The CME contracts launch on Dec. 18. Nasdaq, meanwhile, plans to start its own bitcoin futures as early as the second quarter of 2018.

"I think the short selling is just going to annihilate people when you can start trading it," Cramer said after talking with sources in the bitcoin community. A short seller is essentially taking a position on the belief that an asset price will fall instead of rise. Bitcoin futures will allow bitcoin shorts on a widespread basis. ]

This could be your big chance to get stinking rich.

[SFW] [business] [+1 Sad]
[by HoZay@10:26pmGMT]


steele said @ 1:25pm GMT on 9th Dec [Score:1 Underrated]
norok said @ 10:46pm GMT on 8th Dec
It's a possible 'reason' it will crash but no one ever knows; that's the nature of bubbles and busts. I've seen more than a half dozen since 2011. This one will end at some point, violently, but I've learned not to try to pick it.

A wise person would hedge yesterday on the existing non-US futures exchanges to lock in the high and capture arbitrage on the volatility between spot and future. Less than wise people have been Skyping me concerned that they can't get their account approved fast enough to buy now.

It's going to be an interesting week... it's been a very interesting year.
foobar said @ 6:33am GMT on 9th Dec
It'll crash when people stop needing a way to move money out of China, not before.

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