Traders shorting Bitcoin futures will make the price fall, while GOLDCOIN (GLC) assures steady value
Bitcoin becomes an even more volatile trade, while GOLDCOIN (GLC), which has kept to the plan first elaborated by Satoshi Nakamoto, offers a steady and solid store of value.
The entire cryptocurrency industry saluted the recent launch of Bitcoin futures on the Cboe, to be followed by a similar listing on the CME shortly. As the Financial Times noted, the move gives all cryptocurrency greater legitimacy and acceptance.
But the biggest broker for bitcoin futures says it will start to allow customers to take bearish short positions against the cryptocurrency, the FT says in the same article.
Analysts point out that investors’ shorting the futures could have a powerful negative effect on the price of Bitcoin.
“Fundamentals don’t seem to support [bitcoin’s] move to this high,” warns Gene Munster, an analyst with the venture capital firm Loup Ventures, formerly a widely followed Apple analyst at Piper Jaffray. Munster explains that using bitcoin for retail purchases is still not easy. “It’s more likely than not that bitcoin is in a bubble and the price of bitcoin will be extremely volatile, especially as more futures exchanges open.”
This means that traders will have an easier time betting against bitcoin, Munster says, and “Traders could move towards trading futures contracts and out of bitcoin itself,” Munster pointed out that since the bitcoin futures contracts settle in dollars, the derivative product gives investors “better liquidity than bitcoin.”
All of this means that Bitcoin’s rally may be over, and when that happens, traders will seek better value.
GOLDCOIN (GLC) is a store of value
GOLDCOIN (GLC) is hard money; Traders trust it as a store of value, and that’s why the price has moved steadily from $0.o3 to $0.20 in a short period.
This is the result of steady and increasing traderr interest in the cryptocurrency.
“GOLDCOIN isn’t volatile, it just slowly and steadily rises in price as traders discover it, ” comments GOLDCOIN (GLC) System Administrator Greg Matthews.
Traders have confidence in GOLDCOIN, because it has stayed on the path outlined in the original white paper published in 2008, that first described the blockchain and how it could secure a means of exchange.
CNBC analyst Brian Kelly recently noted that one of the driving factors that led bitcoin price to its new all-time high has been the significant rise in demand for Bitcoin from institutional Traders. Litecoin is now taking off for the same reasons.
But, as Kelly says, when the bubble bursts, traders will look for a more stable instrument in the same market. They will seek something more secure and with a clear value proposition, like GOLDCOIN (GLC).
“Security is ensured by keeping the fundamentals of blockchain and ledger as they should be,” Matthews continues. “We don’t do SegWit for example, (Segregated Witness, which would indirectly increase a block’s capacity to store more transactions than originally intended by Bitcoin’s founders). We still have the original tiny transaction fee that originally was charged by Bitcoin – now it is much larger.
And the GOLDCOIN (GLC) network has been upgraded to provide better response than that of the original Bitcoin, Matthews notes. It also has reinforced security to guard against 51% and ASIC attacks.
GOLDCOIN will shortly consolidate its success: The GOLDCOIN (GLC) roadshow will kick off in the Spring 0f 2018 with a Conference Tour that will allow the team to showcase the cryptocurrency’s technology and new software to the industry all over the world.
“Let Bitcoin have its day,” Matthews insists, “when it’s over, traders will reward better performance, management and security – that’s GOLDCOIN (GLC).”