The main reason I'm bearish is because I was the most bullish I have ever been on bitcoin in my life just a few days ago and this decline took me more off guard than any thing else ever has in this market. I have never been that wrong before. I was so wrong that I actually gave the normies that asked me for advice the wrong advice for the first time ever. So I adapted. I took some of my crypto portfolio into USD and but put in a stop to prevent me from being punished too hard.
How about an insurance? A leveraged short as a hedge, built gradually and pre-calculated to liquidate at an arbitrary level of your choice. Say, 21k. Or 30k. The higher the cutoff level, the costlier the hedge of course, to guarantee similar performance at 5k. Or 3k. 1k?
Hm maybe. I'm an american though so I cant get on bitfinex. What do you suppose is the best alternative to bitfinex for leveraged contracts like that?