The long takes the hit. It's an exit strategy for whales. The issue thus far has been that you really can't sell in any quantity without driving the price down. Now you can, assuming someone is willing to take a long position.
Sent from my iPhone > On Dec 9, 2017, at 11:44 AM, Chuck McCown <[email protected]> wrote: > > Whoever is brokering the short positions would be taking the hit I would > think. > > From: Carl Peterson > Sent: Saturday, December 09, 2017 9:22 AM > To: [email protected] > Subject: Re: [AFMUG] OT: BTC futures > > > BTC is particularly vulnerable to this because of the number of "whales" that > have been holding for a long time and for the most part all know each other. > >> On Dec 9, 2017, at 11:02 AM, Chuck McCown <[email protected]> wrote: >> >> Never thought about shorting and then dumping. I guess if you have a large >> enough position on anything that could work. I wonder if there are laws >> against doing it in the stock market? >> >> From: Travis Johnson >> Sent: Saturday, December 09, 2017 8:51 AM >> To: [email protected] >> Subject: Re: [AFMUG] OT: BTC futures >> >> Do you really think the "average" person that is buying into BTC right now >> knows any of that information? Bitcoin has been on the financial news >> channels every single day this week... and it will be again Monday because >> of the futures trading. >> >> The only thing driving the price up is demand... so the more news, the more >> it's talked about, the higher the price will go. LOL >> >> Travis >> >> >>> On 12/8/2017 12:06 PM, Carl Peterson wrote: >>> Futures trading could just as easily drive the price down. If Im sitting >>> on a 100k coin and I want to sell half of it, I short BTC to hedge against >>> the price dropping and then sell a bunch (which will cause the price to >>> drop). I fully expect this to happen. >>> >>>> On Fri, Dec 8, 2017 at 1:27 PM, Travis Johnson <[email protected]> wrote: >>>> Hey.... BTC is back "down" to $15k today... and the futures options start >>>> trading on Sunday, which I think will drive the price up substantially >>>> this coming week... now may be a good time to get in. >>>> >>>> Travis >>>> >>> >>> >>> >>> -- >>> Carl Peterson >>> >>> PORT NETWORKS >>> >>> 401 E Pratt St, Ste 2553 >>> >>> Baltimore, MD 21202 >>> >>> (410) 637-3707 >>> >>
