Quote from: Synchronice on October 31, 2024, 09:25:07 PM

Quote from: coolcoinz on October 31, 2024, 08:51:44 PM

Depends what you're shorting Wink

For instance, I wouldn't short bitcoin because it's a "mostly up" asset, which means that it eventually trades higher after a correction, so you can blindly buy it at any point in time and eventually make money, while you can't do it the other way round. When it comes to shitcoins though, situation is much different as they mostly trend down. Just look at every single altcoin that's been around for more than 5 years. It has its pumps but after a while it ends up lower and lower. If you have time and money and don't get too much leverage you can play around shorting the altcoin market.

Anyway, in an illiquid market longs and shorts tend to get liquidated every few days, so you either catch a good move or you get fucked, there's nothing in between.

I think that if OP wants to open short position, Bitcoin is not the most dangerous option. The price of Bitcoin has reached 70K, the market capitalization has significantly increased, it can't be as volatile as it was years ago, it can't go from 70K to 700K or 1 Million this time. I think that Bitcoin is the best candidate for short sell but altcoins are very volatile and dangerous for this approach.

Anyway, I suggest OP to not short trade because this is very dangerous. You will be playing with fire. What if you short sell and price goes up from 1k to 2k? 3K? You'll get liquidated. I suggest you to invest in coin that you believe will rise long-term and relax.

I agree.
Now BTC just did what you said - went from $72k to $69k. Why exactly?
There are many reasons for it playing out, however, the corrections will still be in place on the path of breaking the ATH, in my opinion.