I think the Youtube shills, even the ones I hate, are doing a good job of holding the line on the CME futures thing. I think they understand that the question about CME futures and the price of our beloved ether is not a technical question; it's a political one.
Put another way, the jackasses on the CME have 0 power over the price of ETH. They are like the rich whales at the roulette table with a bunch of friends around betting on 32-black. They can yell and scream as much as they want, but the wheel does its own thing.
We control the price of ether, not them. Their paper bets on the price of ETH have nothing to do with the actual price.
And sure, they could get shadow accounts on COINBASE and attempt to manipulate the price to make their paper bets seem prescient. That's when we really have to be aware of on-chain data that points towards market manipulation. It's an established fact that we can determine accounts that are working in concert. These cheating fucks can no longer hide their moves.
No, we are the ones in power. We should expect some sort of manipulation from these outsiders trying to bend our market to its will. But as WallStreetBets showed us, all we have to do is hold the line. If you see manipulation, stand fast in the knowledge that no short term price fluctuation is changing the fundamentals of the Ethereum network. You may see some attempt at flash crashes. Buy the dips. Get rich from their attempts at manipulation. They think they are sophisticated, but they are really just cheaters — and the tools they used to hide their hands have been exposed. If you think your hands are weak, go do something else besides stare at your screen for a few days. You'll come back to see some wonky charts, but your portfolio value will be mostly unchanged, I believe.
So no, I don't expect the CME futures to do anything to ether except let a few more people watch us go to the moon.
But what about the bitcoin futures tanking the market back in 2017?
The futures that year launching at the peak of the 2017 bull run may have served as a catalyst for the fall, but people were less informed back then. I'm sure crypto investors thought that the CME actually had something to do with the price in 2017. I'm also sure most of those hedge fund fucks came in shorting because bitcoin had just hit a huge blow off top. When the market saw all that short interest, they probably freaked and sold, but the market was selling anyway. So that along with the Chinese New Year dump created a huge incident — both sides of the world dumping at once — that brought the bear.
The difference this year is information and circumstance. CNY won't be as bad because the Chinese aren't traveling due to COVID (and many other reasons, click here). The CME won't be as bad because we all know they are just powerless pawns sitting on the sidelines hoping to make a penny from our profits. When you know better, you do better, and we know better. Just remember that you're not responding to market forces in crypto. You are the market. You can make a difference. So do it. Diamond hands; buy the dips; spread the word. Diamond hands; buy the dips; spread the word. Easy.
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YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
Always remember:
Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM
Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.
Gems I'm investing in:
NFTs - Doki Doki
Trading - Unimex
Finance - Soar
