Post
Topic
Board Trading Discussion
Re: Biggest Crypto Mistake: Shorting Bitcoin
by
Zigabel
on 20/06/2024, 16:26:52 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.
As a trader, this has some limitations ,recently there have been some movements of bitcoin around the $60k - $70k support and resistance in which as a trader with a proper TA, you will be able to know the times when you will be able to take advantage of the movements and when there's a fall or crash, the best you can do at that moment to be able to take advantage of the moment is to short and for investors is to sell off your assets and wait for a rebuy opportunity at the bottom of the trend or chart but if you are sayin you still want to long while there a fall or a bear, you are moving against the flow of the market and you will eventually get your fingers burnt and your account blown, always make sure to follow the trend, except you are a long term investor and then you would want to profit from the total movement of bitcoin which usually sums to a bull, or better put to an uptrend because bitcoin after a period of time, usually gets to break an ATH after which the price stays up there and never comes back to a certain range and if it does, it eventually makes sure to later go back up, invariably a long term bitcoin investments such as a 5-10 years usually gets a total upward movement  which turns out to profit them and gets them the most of the profits but for investments that wants to spam through a few months may be prone to suffering some losses.