The San Fran Fed Blames Crypto Crash on Bitcoin Futures
Federal Reserve Bank of San Francisco published an analysis of Bitcoin prices and the crash of 2017 – 2018, pointing to Bitcoin futures as the main catalyst for the crash.[1] This line of thinking confirms what many suspected to be the case, that the futures markets opening in late 2017 led to the parabolic uptrend (in anticipation) and deep crash of late 2017 – early 2018 (in response to the start of futures trading). However, it is important to stress that the charge isn’t as dire as it first might sound. The Fed’s logic is simple, Bitcoin optimists bid up …
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