I was thinking about shorting BTC; Luckily I did.
Dear followers,
As I mentioned in yesterday's post I did short Bitcoin and I am happy about it. https://steemit.com/bitcoin/@vlemon/thinking-about-shorting-bitcoin-btc
I think Bitcoin is a bubble right now but cryptos are here to stay.
Therefore I opened a short Trade on BTC yesterday at $5750. I will close my position around $5100-5200 as my friend @cryptopassion mentioned a strong support line at these levels.
My favorite cryptos are: XRP, EOS, ETH, and Steem.
Take care my friends.
You are a very brave man to go against this monstrous rally.
I think it may have been wiser to wait into November as we get closer to the 2X fork, as there may still be lots of buyers looking to "cash in" on the split by accumulating more bitcoin ahead of the fork.
Bitcoin may very well be overvalued right now, but it can stay overvalued for a very long time!
Bitcoin's way of handling evolution is just stupid. In 3 years there will be 20 different bitcoins (cash, gold, 2x, ...).
People will feel cheated and cry but you should not invest in this "mining" monopoly. You'll just end up losing vs these corporations.
"Bitcoin's way of handling evolution is just stupid. In 3 years there will be 20 different bitcoins (cash, gold, 2x, ...)."
I agree 100%. I was really hoping that Bitcoin would never split precisely for this reason. The success of Bitcoin Cash, at least the mere fact that the chain is stable now, set a horrible precedent. If there was more willingness to negotiate between both sides, it would have never come to this.
Keep sharing Im new to trading so any advise is good :D
Here is my BITCOIN Chart that might help augment your due diligence:
Great @haejin. I was thinking of something like that. BTC Rebound is happening. Let's see if it holds :D.
Thank youf for the comment.
Ume too, im also new
I have a high impact trade to $6,200:
Nice move. Where did you short it? Which exchange?
Hello, you can do it on Kraken, Bitfinex... I don't like to tell people on which one I did it ^^
fair enough, thanks. I didnt short any coins yet, so was more wondering about the process. Probably should have asked a bit differently ;) Cheers
You have to have cash/cryptos on the platform and do it with "margin trades". Just remember that it costs a "fee" which depend on each platform. If you lose too much they can close your position.
Cheers @attalis
I feel like shorting btc is always risky. That said with risk comes reward! Glad to hear your doing well! Steem on!
img credz: pixabay.com
Nice, you got a 5.0% @minnowbooster upgoat, thanks to @vlemon
Want a boost? Minnowbooster's got your back!
The @OriginalWorks bot has determined this post by @vlemon to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!