3 ms·

Why would you even consider shorting BTC in the last few days? There was no negative news at all. Might look smart in hindsight but complete speculation IMO for

• pavlov 9y ago
  On an asset with no fundamental value, shorting is appealing because it can create the negative news cycle. Short enough and you get headlines like the one in the OP: "Bitcoin plunges by X%". Suddenly you'll have longs looking to sell and more shorts hoping to get in.
• prettygood 9y ago
  No negative news? One of the co-founders of bitcoin.com sold everything because he doesn't believe in it anymore http://www.businessinsider.com/one-of-the-co-founders-of-bitcoincom-has-sold-all-of-his-bitcoin-2017-12?r=UK&IR=T http://www.businessinsider.com/one-of-the-co-founders-of-bit...
  • DaiPlusPlus 9y ago
    Bitcoin.com is unrelated to the Bitcoin Core project at Bitcoin.org.
    • prettygood 9y ago
      True, but that doesn't matter to people who don't know aything about it. They just read "Bitcoin guy sells everything". It's not like the media is going to properly explain it in the article, or tried writing a less click-baity title.
• bsaul 9y ago
  Told a friend that was very much into bitcoin to sell everything two days ago. But my logic is the following : if an asset is overvalued because of hype, then the moment everybody knows about the existence of the asset is when the value reaches its peak. With the recent news about bitcoin reaching 20k and everybody in the general public wondering about investing, i thought we reached that moment.