#BlackRock, the world’s largest asset manager with $7.81 trillion AUM, recently granted two of its funds the ability to invest in #Bitcoin futures.
Here's why I think BlackRock investing in Bitcoin futures is bearish, and could result in a major downturn in the coming months.
With Futures, they can either short or long. Considering BlackRock's historically bearish stance on BTC, It's quite clear they will be shorting.
With their large cash size, BlackRock will be the largest player in this market. They can and will tank Bitcoin's price to avoid paying out. Banks have done it before...
They went live in December 2017. This was the perfect tool for Wall Street to take control of Bitcoin, and short it.
We saw an 85% crash in the proceeding months.
Over $200 billon was wiped from the crypto markets as the news spread. For something apparently so bullish, that's an odd reaction, don't you think?
Bitcoin is up over 1000% since March. If you really think the largest asset manager in the world is going to FOMO in at ATH's, I don't know what to tell you.
This is because they will be able to artificially suppress it, just like they did to Gold futures in the past.
More from Bitcoin
The is no Devcoin Gold yet. But then again, we've never been one to "peg" to anything. I came across an interesting article about 'recreating' addresses with Bgold that @bitcoincoreorg cut out since 0.13.0 - perhaps one day we can do a similar thing in future Devcoin software :)
https://t.co/cv4UqsaVAK
That being said I hold some Doge @blockio in an "A-" address myself after 0. 1. "9-" versions :). Don't believe Bitcoin Core the Coin (Utility) is the only visible value on Core chain. Color me crazy. I believe in script. And FOSS that is used to export📜
And that's just a guy @MeniRosenfeld who put his identity and ideas out in the public to build a Web of Trust back when the web was much less of a safe place. His identity at stake and the implementation of a branch in source code by another unsung hero @killerstorm reveals value
Some of those who set up our bright future quietly implemented it in a branch on the main source code before it was officially the Bitcoin Core main repository, before a "Bitcoin Core" entity existed
Just because Bitcoin Core nodes dominate and do not read "smart" colored satoshis or display them, doesn't mean they do not exist on chain. The example of recreating P2WSH-over-P2SH address from BTC https://t.co/ZWSP2MO5bY wallets in Bitcoin Core Gold I shared proves -rescan's $
https://t.co/cv4UqsaVAK
That being said I hold some Doge @blockio in an "A-" address myself after 0. 1. "9-" versions :). Don't believe Bitcoin Core the Coin (Utility) is the only visible value on Core chain. Color me crazy. I believe in script. And FOSS that is used to export📜
And that's just a guy @MeniRosenfeld who put his identity and ideas out in the public to build a Web of Trust back when the web was much less of a safe place. His identity at stake and the implementation of a branch in source code by another unsung hero @killerstorm reveals value
Some of those who set up our bright future quietly implemented it in a branch on the main source code before it was officially the Bitcoin Core main repository, before a "Bitcoin Core" entity existed
Just because Bitcoin Core nodes dominate and do not read "smart" colored satoshis or display them, doesn't mean they do not exist on chain. The example of recreating P2WSH-over-P2SH address from BTC https://t.co/ZWSP2MO5bY wallets in Bitcoin Core Gold I shared proves -rescan's $
Afternoon all,
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
11. Portfolio Management & Trade Diary- https://t.co/KAig84dOsk
3Commas gives you the ability to see your full portfolio, mapping your balance and asset breakdown. You have access to all your trade history across all exchange in a single trade diary, saving time extracting taxes
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
11. Portfolio Management & Trade Diary- https://t.co/KAig84dOsk
3Commas gives you the ability to see your full portfolio, mapping your balance and asset breakdown. You have access to all your trade history across all exchange in a single trade diary, saving time extracting taxes
1/9 Bitcoin has performed remarkably these past few weeks despite:
-Most of DeFi falling 50-80%
-CFTC charging BitMEX
-POTUS contracting Covid
-Delayed stimulus talks
-FCA announcing a derivative ban for retail
Why? Let’s see what we can find on-chain
2/9 Bitcoin’s Realized Cap has been steadily increasing just as it did before the 2017 bull market took off. If it continues as it did in 2017, 2021 should be an interesting year.
https://t.co/nqgX7vTMDV
3/9 Bitcoin MVRV, whilst more volatile this market cycle, is also is holding the same trajectory it did during the 2016/17 bull market
https://t.co/jadbn6nCOB
4/9 Looking at the supply of Bitcoin on exchanges is a good indication as to whether or not users are increasing trading activity, or increasing hodl activity. With supply reducing it looks like the tendency recently has been driven by hodlers
5/9 Despite the recent volatility, the number of Bitcoin whales continues to increase, indicating the growing number of large holders that have positive expectations for the future of Bitcoin
-Most of DeFi falling 50-80%
-CFTC charging BitMEX
-POTUS contracting Covid
-Delayed stimulus talks
-FCA announcing a derivative ban for retail
Why? Let’s see what we can find on-chain
2/9 Bitcoin’s Realized Cap has been steadily increasing just as it did before the 2017 bull market took off. If it continues as it did in 2017, 2021 should be an interesting year.
https://t.co/nqgX7vTMDV
3/9 Bitcoin MVRV, whilst more volatile this market cycle, is also is holding the same trajectory it did during the 2016/17 bull market
https://t.co/jadbn6nCOB
4/9 Looking at the supply of Bitcoin on exchanges is a good indication as to whether or not users are increasing trading activity, or increasing hodl activity. With supply reducing it looks like the tendency recently has been driven by hodlers
5/9 Despite the recent volatility, the number of Bitcoin whales continues to increase, indicating the growing number of large holders that have positive expectations for the future of Bitcoin