[dharma1]

I don't think CME is the reason prices have plummeted... My hypothesis is that there was no particular reason for the crash except simply lack of new buyers (everyone and their dog already heard about crypto), and lots of people selling. The drop looks steep but so did the rally before it. People can't agree on the value, it's all driven by sentiment and new blood (or lack of it).

You can't call the bottom on something you can't value, Novogratz thought it was at 6000 but made the wrong bet (for now, let's see what happens on a 1-2 year timeline). He's been doing the roadshow this year saying institutional money is coming in (I had a brief chat with him in London) but I don't see any pension funds touching something this volatile with a barge pole. Not until real value is starting to emerge