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Board Archival
Re: I sold everything at $158/159 this morning
by
MoonShadow
on 26/11/2013, 00:25:16 UTC
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Quote
I thought we all agreed on something: one does not simply short bitcoins.

Doesn't matter what you might agree about.  It only matters what's possible.  Someone's going to ingore your agreement.

I just meant that shorting bitcoins seems extremely reckless given how BTC has behaved in his short history, I though you would have agreed since you've been into BTC since the days in which it was worth nothing.

Yeah, that's true.  It seems to me that everytime bitcoin surges to new highs, about a week or so later it crashes back down to half or so of the high, but it never gets down to the prior lows.  So the march to infinity has been two steps forward, one step back all the way.  But the one time I bet against a still higher high, bitcoin breaks it's pattern and does a double peak within a week without the crash to half value in the middle.  Sucks to be me, but that's what happened.  The moral of the story, don't assume that there is a pattern to bitcoin market movements.