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Hackernoon logoHow BTC Futures CME Manipulate the price of Bitcoin by@sergey-baloyan

How BTC Futures CME Manipulate the price of Bitcoin

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@sergey-baloyanSergey Baloyan

Entrepreneur, X10.Agency Founder | DeFi/STO/IEO marketing and launch | Worked with 50+ projects

On December 15, two years ago, the largest American company  CME Group launched  Bitcoin futures .  
CME is the only one who provides the opportunity to trade bitcoin futures in the United States and they are the first to enter the territory of derivatives instrument for the cryptocurrency market and now they have no competitors. 

CME  futures are one of the most manipulative instruments on the cryptocurrency market. And the opening and closing of their futures suggests when the bottom will be. 

On December 15, 2017 two contracts were opened:
- 3 months until March 29: opening price $20,631 - closing price $7,070; 
- 6 months until June 29: opening price $20,631 - closing price $5,800.

Before bitcoin futures , large players did not have a high-quality tool for the global short market - and the Chicago exchange provided this opportunity After 3 months,  bitcoin fell by 67%.

The market went up a little, but by the close of the 6-month contract, the market fell by 71%.

On July 2, another 6-month contract has been opened and was closed on December 28.

You can check The detailed table of the start and end dates of all contracts here: Google Docs link
(CME does not save this data)

And the most interesting.

I think you remember the growth on October 25-26 at $3,000 up:

If you take a look closer in the chart, then you can see the contract F20 from 10.28.19 to 01.31.20 - until January 31 we will not see a price above 9200.

On December 16, the first annual price contracts were opened in the $6,600 zone and we are sure this factor will push the price up. 
But already December 30 the semi-annual contracts M20 will be opened (12/30/19 - 06/29/20). 
And December 30, a two-year contract opens and this fact will also push the price up.

To get more thoughts and ideas about crypto industry you can Follow me in Twitter.
This analysis is done with the help of EXCAVO, #1 team of analytics on Trading View.


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