The Recent Price Smash in Precious Metals is Frustrating for Goldbugs...
New Evidence Futures Markets Are Built for Manipulation #moneymetals https://t.co/e0fVmMxvoe
— Money Metals Exchange LLC (@MoneyMetals) November 11, 2019
New Evidence Futures Markets Are Built for Manipulation
That’s why it’s worth explaining once again the real purpose of the futures markets, where prices are set. Some recent revelations about Bitcoin futures will help.
The CME launched a Bitcoin futures contract in December of 2017, and many cryptocurrency fans cheered. Those who cheered expected “institutional” money to pour into Bitcoin. Their mistakes were in assuming the institutions would be making long bets on Bitcoin and the futures market would be free and fair.