Volumes speak louder .
The first thing I have noticed about Btc is its trading volumes have dropped off heavily .
The Futures trading .
Futures trading for BtC began in December 2017 . Here are some intended outcomes of that happening ,
1 . Significant amounts of outflows that were directed at directly buying btc has now gone to purchasing options and futures , a lot of bitcoin trading was done by traders rather than investors which means that traders can do this far more easily and safely on a futures exchange . No need to worry about wallets and hacking .
- Since the futures trading began , a lot of investors had seen the meteoric rise in 1 year to almost $usd 19k of bitcoin price . It was time for some profit taking , those who feared a bubble , have taken profits , and bitcoin has since fallen a fair bit .
- As BtC is firmly under the control of elite banking institutions , this has made way for the rise of etherium , Ripple , Cardano and others . These alt coins have lots to offer given their value proposition . I think that most investors should still proceed with caution . Cryptocurrencies will soon be regulated . It’s a matter of time .
Images source . Me me .com and Pinterest
Note : I’m not a financial adviser although no one claim to be advisers in this space anyhow as no one really has adequate in depth knowledge about the entire crypto ecosystem to be qualified to provide advice .
It’s quite sad that bitcoin has been tamed IMO as it needed to be growing organically without disruption and interference . That’s now come to grinding halt . The bankers have caught up .
