Quote from: shinratensei_ on Today at 03:57:01 AM

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.

definitely agreed with this, altcoins in general always hits ATH and then went downhill forever until only 10% of its value remains, I've seen plenty, TIA included, at some point I think shorting altcoins at peak couldn't be a more effective strategy since they have this tendency of being abandoned by the market.

it's quite opposite with BTC where the long term outlook always growing linearly. definitely some dump and pump along the way but the general outlook always looks linear.

so the conclusion is, if we are shorting, be sure to only short the shitty altcoin that is valued so high because of temporary hypes.

Yeah, or to look at the situation more deeply than the overall opinion on the coin and its cycles.
BTC, for example, now just dumped a bit - but it's okay in the long run, of course, in my opinion.
These 2-3k won't matter in the long run.