Post
Topic
Board Speculation (Altcoins)
Re: Why is no one talking about shorting alts?
by
Cherylstar86
on 13/05/2021, 13:36:57 UTC
It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.
If you can't rely from unknown coins, then try to divert on bitcoin because altcoin was just a second options. When there's hype for sure it's the best time to ride with the trend, most people love to see pumping market as well as good news go parallel with positive praises.
We can't expect bad comments to gain good results, so that why during uptrend scenario of crypto market always got good feedbacks.