Originally Posted by
monsterj
My thesis on why BTC and all cryptos are down is because of the release of CME futures. Up until December 18th, you could not short BTC in any real way for size. Now, institutional investors and traders can sell short with one mouse click and not have to worry about borrowing, private keys, wallets, etc. It is now regulated to short! This puts tremendous downward pressure on the entire market that was not used to both buyers and sellers. BTC was a product that people would only buy and hold and the only sellers are not speculators but people looking to get back into fiat, not actual short sellers.
With that being said, I am going to reopen a position tomorrow and will cover when the futures start trading contango. Contango means the futures price is lower than the the spot price.