In precisely five days, the September fiat settled bitcoin futures contract at CME expires.
Yes, another month is nearly over, so we can look forward to our ritual of copy pasting the futures template which since at least April has required pretty much no change whatever month after month.
According to it, on or around Wednesday we can expect a price fall of about 10%, so minus $1,000.
Not a penny more! Although there might be perhaps some variation. Maybe it will be on Thursday or perhaps front-running Tuesday.
Maybe by some magic it won’t happen at all this time. Blasphemy! The Wall Street bankers live for this day. Their sacrifices to Moloch will pay.
But is this consistent 10% fall really that sinister? Can it actually continue to work now that it is becoming a bit far too predictable? If it does, how long until calls for investigation or prison?
The Mystery of Wall Street Tricks
There are few things more predictable in bitcoin than price will fall before the last Friday of the month when futures expire, and that price will rise after it.
Maybe one day this prediction will be wrong, but the master manipulators have like clockwork delivered every month.
Das luminatus does not sit in a smoke filled room. Those days have long gone when bankers met together, usually at Rothschild controlled premises, to over a ten minutes cigarette fix the price of gold and everything else at around 4PM London time with their corded phones.
The price fixing is now done “algorithmically,” still at 4PM of course, through the “aggregation” of spot prices.
They slice them and dice them in five minutes windows with manipulation difficult if at all possible, but only between 3PM and 4PM.
So to set the price during that one hour window you manipulate hedge before it. As in you short on CME and shortly after you sell your spot bitcoin.
Alone, this is difficult, but rule number one of das luminatus is that das luminatus doesn’t exist. So when you’re having discussions with your work colleagues over private chatrooms or at the local pub, you’re just engaging in completely over the board trade related professional discussions, not in price manipulation coordination.
There’s nothing wrong with selling is there? How can it be illegal to foam at your mouth over futures expiry in private chats, it’s just a factual discussion isn’t it? Futures will certainly expire will they not?
And if one of your colleagues leaks, one has to pay the price to Moloch now and then. Just one of you would have to pay a fine anyway. Prison? Pfhhhhh – we’ll crash the system!
Is any of the above true? Well, who is to know. The regulatory agencies, that’s what taxpayers pay them for! Pffff, the regulators are married to bankers you dummy.
To be fair and balanced, as the propaganda mouthpiece corporate media likes to say, we can suggest that since longs have to be closed, that means the bitcoins that were borrowed to long have to be sold, so if there are more longs there’s natural price pressure.
Except bankers of course don’t borrow bitcoin and they don’t touch bitcoin at all. This is fiat settled, pure USD from in to out. So they never borrowed bitcoin and they never sell actual bitcoin on CME.
In addition if that is the case we would have expected the opposite while price was falling. Since they had to buy bitcoin once they closed the short, and since price was falling so more were short, then a price rise would have been expected just before futures expiry.
But since at least June 2018 price has only fallen prior to expiry. An analyst at the time said: “Overall, bitcoin has fallen 18 percent in the 10 days prior to CBOE contract expiration.”
CBOE is no longer in play, but the commodities price manipulation is now a proven fact following quite a few court cases and investigations.
They claim they have addressed that manipulation by having the price fixing window in a digital form instead of some smoke filled room, but why on earth there should be such window at all in this age of instant communication does remain an open question.
Just as is the main one: will price really fall even now that they stand pretty much naked?
We’re terrible at betting, that’s why we stick to words, so we don’t know but we are very tempted to say probably. Whether it will indeed be thus, remains to be seen now in just a few days.
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Yes, another month is nearly over, so we can look forward to our ritual of copy […]