We can all agree BitMex is the scum of the crypto world. The fact this idea (100x) was executed & persisted for so long is baffling. Take into consideration “the house always wins” and you come up with a nasty outcome for the average Joe. BitMex being charged with illegally operating a derivatives exchange is all a part of the adoption process. In order for us (coiners) to be further accepted, we need to clean the scum out of the pond.
This SHOULD Have Decimated Markets
The fact Bitcoin is still holding above $10,000 truly is a clear sign markets have found their bottom, and are ready to move up. Had you released this news 1-2 year ago, the markets would have TANKED! We’re talking a daily red candle down 6-15%. Instead, we had a rather modest drop of only 2.5%, and since then, we have recovered nearly back up to pre-Bitmex news prices.
Where Does That Leave Us?
Easy! At the start of the next bullrun. Over the coming months we will experience more and more explosive price action. We are gradually moving into a time that will forever alter our lives, for better or for worse. If you’ve experienced past bullruns, hopefully this time around, it will be for the better. 😉