BTC market maker
Publish: 2021-04-30 02:40:03
1. The issuance of futures and other derivatives will expand substantially. The debate on whether derivatives trading is stable or undermines the stability of the underlying market has lasted for decades, with dozens of papers written by leading economists. A 1976 paper analyzed the onion and potato futures market and concluded that derivatives, in fact, tend to have more and more proction shocks on the price, thus recing the volatility
this paper analyzes the same problem with bitcoin: the futures market has been launched for some time, allowing researchers to draw preliminary conclusions on its impact. The researchers found that the effect was not linear: Although the first trading period actually led to higher volatility, then graally declined, establishing a strong causal relationship in the last period
"from a professional perspective, market makers prefer to use settled and closed markets; Material object; Contracts to hedge futures contracts, thereby greatly recing the risk of potential settlement price manipulation, "he explained“ Through a cash settlement contract, the settlement price will never really be effective at maturity. "
the difference between cash settlement and physical delivery futures is how to deal with the underlying assets: in the former, transactions are only written off mathematically according to the reference spot price, while in the latter, the assets are actually e
"as a result, the buyers of these [cash settled] contracts seem to be speculators, using leverage," he continued“ Once the long-awaited physical contracts are listed, I expect most cash settled contracts will lose their attractiveness and the spot market will stabilize. "
at the end of last week, the trading price of bitcoin was in an incredible state of tension. Bulls failed to take charge of cryptocurrency, while the market was quite good. As pointed out earlier, when bitcoin trades at a smaller price in a very short period of time, a breakthrough move is likely to come
for most of this month, Ethereum enjoyed a strong upward movement over the weekend after the territory was depressed. Looking at the ETH / BTC chart, it seems that cryptocurrency has surpassed bitcoin in the short term, despite the warning of MACD index that there may be a bearish correction soon
the level of $10000 is the key support area that sellers need to break through this week. The weakness in this key technology area may be the trigger for the bearish attack on BTC / USD against the current monthly trading low
in the short term, it is important for sellers to force the price to be around $10260 at the weekly fulcrum to gain control over the price action, and to encourage testing of the previous week's trading lows of BTC / USD pairs.
this paper analyzes the same problem with bitcoin: the futures market has been launched for some time, allowing researchers to draw preliminary conclusions on its impact. The researchers found that the effect was not linear: Although the first trading period actually led to higher volatility, then graally declined, establishing a strong causal relationship in the last period
"from a professional perspective, market makers prefer to use settled and closed markets; Material object; Contracts to hedge futures contracts, thereby greatly recing the risk of potential settlement price manipulation, "he explained“ Through a cash settlement contract, the settlement price will never really be effective at maturity. "
the difference between cash settlement and physical delivery futures is how to deal with the underlying assets: in the former, transactions are only written off mathematically according to the reference spot price, while in the latter, the assets are actually e
"as a result, the buyers of these [cash settled] contracts seem to be speculators, using leverage," he continued“ Once the long-awaited physical contracts are listed, I expect most cash settled contracts will lose their attractiveness and the spot market will stabilize. "
at the end of last week, the trading price of bitcoin was in an incredible state of tension. Bulls failed to take charge of cryptocurrency, while the market was quite good. As pointed out earlier, when bitcoin trades at a smaller price in a very short period of time, a breakthrough move is likely to come
for most of this month, Ethereum enjoyed a strong upward movement over the weekend after the territory was depressed. Looking at the ETH / BTC chart, it seems that cryptocurrency has surpassed bitcoin in the short term, despite the warning of MACD index that there may be a bearish correction soon
the level of $10000 is the key support area that sellers need to break through this week. The weakness in this key technology area may be the trigger for the bearish attack on BTC / USD against the current monthly trading low
in the short term, it is important for sellers to force the price to be around $10260 at the weekly fulcrum to gain control over the price action, and to encourage testing of the previous week's trading lows of BTC / USD pairs.
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