Futures casued the tulip bubble to crash and i think they caused bitcoin to crash too.

Futures allow next week/month/year supply of tulips to be sold in advance. Since the supply of tulips can be increased by growing more they were able to tap into a large supply of future crops and sell them well in advance causing the bubble to crash.

Bitcoin is currently produced at 900 newly mined Bitcoin per day. Future contracts for next month allow 27,000 Bitcoins to be sold before they are even mined. This add huge supply pressure and when futures stretch 4 months on the CME that a extra 108,000 BTC in advance. The good news is production of new supply decreases in the future, unlike tulips.

So think about this. At the peak $69,000 the Bitcoin Futures ETF launched. I'm willing to bet that that caused the crash. Four months of futures at that price would have been a additional $7,452,000,000 USD worth of bitcoin added to the market. Now it all makes sense why wall street and the SEC wanted a bitcoin futures ETF, but not a spot price ETF. They wanted to crash the price of bitcoin by adding more supply onto the market. However this only a short term effect, not a long term effect as the bitcoin supply output decreases over time.

submitted by /u/hyperinflationUSA
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