iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,444 Blog Posts

In Less Than 1 Month Since Wall Street Started Trading BTC Futures, the Price Has Collapsed

UPDATE: It’s getting real. I sold out of all my crypto proxy plays and went long SOXS.

Let this be a lesson to you bitnerds out there — jerking off to your digital wallets. Wall Street will always beat you. It has unlimited resources and sophistication, whilst you have HODL.

Was it ever a fair fight? You should not have let the wolves into the hen house. Now you’re all gonna starve.

In less than 1 month since the CME began trading futures on BTC, the price has dropped nearly 40% — from a high of $18,700 to the $11,000s where it trades now.

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7 comments

  1. moonshot

    Bitcoin will rise again. Wall Street will have to pump cash in if they want to make serious money on it. Hardgrove funds don’t work without assets under management.

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  2. moonshot

    Hedge funds, that is.

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  3. Marc David

    State sponsored cryptocurrency coming soon! Most of the major banks have filed patents regarding blockchain tech. Many others are working with start ups to develop blockchain related products.

    I did read something about a Bank opening an exchange for the conversion of one crypto to another.

    I gotta laugh at people who seriously think there will ever be a currency where Banks (Wall St included) and governments are completely excluded. Not how that works.

    I just read the most profitable publicly traded company is SNB? Swiss bank?

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    • it is showtime

      TOLD YOU!!!!!!!!!!!!!!!!
      FUCKIN TOLD YOU!!!!!!!!!!!!!!!!!!!!!

      It wasnt a coincidence The Greatest Showman, about sucker-born-a-minute-Barnum came out in december. I said that late summer. I said in late summer, I sensed there was a coordination somewhere. You got a virtual parabolic vertical textbook cliche peak bubble formation. Every fucking moron and intellectual moron doofus preening and writing and picking and listing. You stupid fucking morons. Here we go, start of the other side, back to where it was a few months ago.
      FUCKIN TOLD YOU. STUPID MASSES. HA THE MOVIE. YOU FUCKING SUCK. TOLD YOU.

      not you, marcdavid

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  4. sarcrilege

    banksters. they’ve got the looting credentials. what do muppets have? zeal.

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  5. insp cluso to you
    insp cluso to you

    Could be at a historic turn in the market, so lets keep an eye on these shiny things. Very nice.

    What was it you that you said? HODL?

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  6. joyous__ending

    The House (aka the Chicago Mercantile Exchange) always wins.

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