RE: RED DAY! Are you selling or HODLing??
You would actually have the guts to short "actual" bitcoin or some other crypto? You had better keep a years supply of antacids on hand every week you employ a shorting strategy. :-) Now is a good time to have been short and it "likely" won't be time to buy until anyone who boguht Bitcoin at $2500+ is downing the Maalox. :-) I just posted this at my blog. Even the hedge funds who were actually "controlling" and creating every single rally for the past 2 months are now having difficulty finding "traction." The 3 hour live chart is showing how the "buy the low" strategy is not working for the first time in weeks.
I could see shorting the U.S. exchange traded bitcoin tracker but I doubt there would be shares available to short as brokers would want every single share out there on file just in case people actually do panic. :-) But if this was "shortable" you could get out in 5 seconds. Try that with 'actual" bitcoin.
Well when I say short I certainly wouldn't be attempting it on margin, simply selling alts into Bitcoin or fiat at a high, say ETH at $350, then buy back in now. Essentially shorting it that way. When the market bounces back you got a lot more.
Not true shorting, but it works.
I can see that. I advised converting as much STEEM to bitcoin (and preferrably to dollars) last week because I know the price of STEEM is going to drop a bit more than the price of bitcoin during this selloff. I'll check out your blog to view your call to sell Bitcoin at the recent highs. There were very few who were saying that. In fact, I thought I was the ONLY one here who was saying it. :-)