Post
Topic
Board Bitcoin Discussion
Re: Bitcoin ETF Hype and Leverage
by
ObscurePen
on 19/01/2024, 22:52:43 UTC
I am sorry for your loss. It is a bold plan to say the least to use leverage during the etf approval 'hype'. The ETF would never have brought instant increases in price. If the ETF would ever influence price it would be in the mid to long-term.

Using leverage in crypto markets is crazy in its own right. They are so volatile and driven my emotions and FOMO. Perhaps you experienced this when you decided to use leverage trading. A useful index when investing is the fear/greed index. Right now its set on greed and few days before ETF approval it was 'Extreme Greed' which is clearly unsustainable.

The base price of Bitcoin is really what the miners need to cover their expenses. You can gauge what this value would be by looking at average global hash rate and mining difficulty. Anything on top of this base is supply and demand and/or FOMO

When investing in crypto always remember to treat your investment as 'expendable' money. Markets are so volatile and the value of your investment can plummets overnight. Hopefully in your case if you can hold out for a few months the price should recover as we near the halving.