Hedge Funds Go Bullish on Bitcoin Futures
Most recent CFTC report showed leveraged funds with 1,142 long positions in bitcoin futures, more than double the 518 short positions they held.
In this blog i have more questions than answers, that is why i need your participation.
Fact that Wall Street went Bearish on Bitcoin futures last month, and BTC went nosediving from 20k to 10k.
There is a lot of speculation that BTC should've stayed around reasonable 10k mark.(not reaching 20k)
Now all this volatility in BTC price can not last forever, since Wall Street went long this month it is reasonable to expect BTC will increase in value.
The question is: Where BTC will sit 1 month from now? 6 months? 1 year? I don't know.
Will BTC go back to 20k? I am not sure.
If Wall Street truly manipulating BTC price, will Altcoins rise along too? What if not?
Do We need to balance our portfolio accordingly with increase in BTC share? I am not saying to sell all your Altcoins positions completely.
I personally think these futures contracts are scam, why just not invest in BTC and make our life easier, so we all can profit from rise of BTC.
At the end of the day, we can not stop or influence on all these BIG BOYS games,one thing we can adjust our positions and play along.
Please leave your opinions and let's share ideas. Thanks.
picture is from shutterstock.com