Community post
Bitcoin price drop, the real cause
Since the start of the 2017 the price collapse many times and there may be a correlation to this effect with the introduction of BTC futures. The same effect occurred in 2007 with uranium futures.
From the graphs it is evident..
#BigBanksAreNotYourFriend
Replies (2)
And uranium prices never recovered, at least until today. (22,7 USD, Investing.com )
Sad story but uranium was recovering and a new upwards trend was beginning in 2010-2011, as the disaster of Fukushima happened. So I don't think furures trading is responsible for the long term price. It should be the overproduction and the low demand.
Congratulations @sky.max! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard!
Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes