In recent years, participants in the cryptocurrency market have repeatedly observed, as exposed to the price and trends of cryptocurrency from the whales and exchanges.
Only in the last two months, crashed twice on BitMEX brought down the market and caused a major liquidation of long positions indefinite swaps with a large leverage. First it was “black Thursday”, and two days before halving in the absence of news within 7 minutes, the Bitcoin price fell 15 percent for a short time.
American economist Nouriel Roubini has sharply accused Twitter exchange in overestimation of liquidity and participation in the scams of whales.
On the market there are many derivative exchanges that offer their platforms to 100x leverage. It allows the trader with a great amount of funds to create a special kind of volatility and suppress liquidity providers in long or short positions.
After the halving of Bitcoin mining and the profitability of miners from 1800 to 900 BTC BTC miners will cease to be the main providers of liquidity to the market and will lose much of its influence. At the same time, under the stated assumption the cryptanalyst Willie Woo on Twitter Willy [email protected], income from daily exchange fees for derivative sites cripture, in particular BitMEX will increase to 1 200 BTC. Thus, the bearish trends that regularly provoked the miners when selling cryptocurrencies, the more will depend on the exchanges, siplivaya Bitcoin liquidity on their balance sheets. Futures trading with a score of 50 BTC and leverage on short positions each month will bring up to 8 BTC income.
Thus, the futures trading, which now provides the provision of liquidity to the markets and hegirae cost, after the reduction of the remuneration of miners in a mining unit will begin to exert pressure on the market their sales.
Selling for Fiat on the trading floor of trader’s profit in BTC, the exchange will perform the role of a tax agent, just as the miners sold Bitcoin for dollars to cover Fiat expenses for Bitcoin mining.
It is possible that the exchanges will become cholerae and will accumulate the earned income in BTC.