View single post by freebirdsforever2001
 Posted: Fri Dec 8th, 2017 03:34 am
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Fantasia is running wild!

Joined: Tue Jul 8th, 2008
Location: Pittsgrove, New Jersey USA
Posts: 20758
srossi wrote: This is a good point from an investor I respect:

Bitcoin is the huge news today, and the futures traders interested in short (betting on the coin going down) futures contracts that will be available Monday must be licking their chops just waiting to jump in. Bitcoin blew past $15,000 this morning, then $16,000, and finally $17,000 on some exchanges, after starting the day around $13,700! As I mentioned Tuesday, up to this point in Bitcoin, there has only been investors that were interested in seeing the coin go up in value. With the advent of futures trading, there will be very large investors that will have a financial interest in driving the price of Bitcoin down. In the long-term, having futures and options on Bitcoin will create a more accurate real market value, and provide some long-term price stability. In the short-term however, adding futures to Bitcoin should introduce some significant short-term volatility, and a great deal of risk to this current price. If you own Bitcoin, it will could be a wild and scary ride ahead. If you want to own Bitcoin but think you missed the run (well, you did miss the big run) you may have an opportunity to get in at significantly lower prices. Only time will tell, and I may very well be wrong (ask my wife, I usually am), but undoubtedly, the price risk goes up next week, at least for a while.

May I ask on how much you bought?