Forget Bears Bitcoin Duck Curve

Forget Bears Bitcoin Duck Curve

Technology
November 14, 2021 by mvp00
187
FIRST LAW OF THERMODYNAMICS – The law of conservation of energy states that the total energy of an isolated system is constant; energy can be transformed from one form to another, but can be neither created nor destroyed. What fuels a bull run? Much talk has been made this month on the futures market of
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FIRST LAW OF THERMODYNAMICS – The law of conservation of energy states that the total energy of an isolated system is constant; energy can be transformed from one form to another, but can be neither created nor destroyed.

What fuels a bull run? Much talk has been made this month on the futures market of bitcoin, with a groundbreaking paper ETF now multiple weeks in existence and a filing of a spot ETF from Grayscale with a presumed imminent approval by mid-December. While futures were initially designed as a way for agricultural business owners to hedge their crops due to seasonal variances, they quickly made their way to Chicago and developed into the battleground of bears and bulls we call the Chicago Mercantile Exchange, or CME. This speculative market rapidly grew to dominate dollar-denominated markets and became a wildly volatile technology for “somewhat” accurate price finding across a liquid and “somewhat” open market. As the technology and market grew, and as the leaky entropy of 2% annual inflation compounded, Americans found themselves in need of speculating and investing in order to offset the energy loss of their dollar-denominated savings. Now with zero-fee broker apps and near zero-fee bitcoin exchanges, the accuracy of said price finding has grown, mostly due to a vast expansion of market participants.



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