Post
Topic
Board Economics
Re: Biggest Crypto Mistake: Shorting Bitcoin
by
Ndabagi01
on 11/06/2024, 17:06:09 UTC

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Bitcoin have shown some level of confidence in me that I won’t want to short it even when the market is on a correction mode. I will prefer to look at the future possibilities of it rather than banking on short term goals of it that I know will only last for a short period which you can’t even be certain the period (whether long or short) it will last. The biggest bet on bitcoin should be on the continuation movement of it in the uptrend and not the other way round.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.
That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

A lot of people that didn’t believe in bitcoin and came back lately into it are mostly the big whales investors and traders. They try to play smart with the market which is working out for them. Buying low and selling high for the investors. The traders now bank on trading, they do it by analysing the market on a short or long term depending on what the result of the analysis shows for them at the end of the analysis.