As we have been saying in many of our forecasts over the last couple of weeks, the bitcoin prices seem to have stalled and they no longer seem to have the momentum that they used to have till the beginning of this month. That the introduction of futures in the CME and the CBOE has a role in this kind of price action is a matter of conjecture but the fact is that the introduction of futures has increased the ways by which the bitcoin market can be shorted and this is an effective tool to control its price rise. It is something that will be welcomed by top traders and big investors but it is something that is likely to be loathed by speculators who have now lost the ability to keep pushing the prices in one direction without much of an opposition.
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Prices Continue to Consolidate
We had also mentioned that the alt coins seem to have picked up the baton from the bitcoin market and that is why we are seeing them rising at a faster pace that the bitcoin…