Hello Steemians I hope you are all well
In this video Crypto Daily discusses how the unstoppable Bitcoin rally was halted on December 17th 2017 at a price of $19.535, due to the launch of the CME Bitcoin Futures contracts. (Which were allowed to go ahead by the government.)
The paper Bitcoins issued by the CME take demand away from the Bitcoin spot Market, which both lowers Bitcoin's price and also vastly increases the actual Bitcoin's in existence.
Even the Federal reserve issued a statement earlier this year (in may) affirming that the CME has ruined Bitcoin's price.
Obviously there are many other factors to take into consideration regarding Bitcoin's price decline, but it is clear that the US government has destroyed Bitcoin's price.
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Source Crypto Daily - (YT channel)
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