Listen and learn newbs!
“… Citing previous crises in recent financial history, like the Dot Com Bubble, Heath told David Lin, anchor for Kitco News, that new technologies usually lead financial downturns….”
Volatility Incoming: Bitcoins On Derivatives Exchanges At Its Highest Since May 19
Bitcoins on derivatives exchanges are at their highest level since May 19, signaling a volatile weekend ahead.
Historically, derivatives exchanges like Binance Futures, BitFinex, and BitMEX are able to create massive price movements (a single entity or group of entities can create huge swings using a relatively low number of coins) thanks to the provision of massive amounts of leverage. These exchanges allow margin trading of even over 100X leverage.
The same whom orchestrated the 2007 derivatives crisis, are about to tank the Bitcoin Ponzi scheme, starting a chain reaction, as the toxic derivatives mixed with those phony cryptos become worthless, many will be left behind holding these junk derivatives, then will probably go bankrupt world wide, spreading a wave of panic all over the financial markets.