The problem with shorting in bubbles is you don’t know when they will pop. As Maynard Keynes famously said, markets can remain irrational much longer than you c

The problem with shorting in bubbles is you don’t know when they will pop. As Maynard Keynes famously said, markets can remain irrational much longer than you can remain solvent. And given enough time for irrational price levitation, something else can fill the bubble void and the price justifiable at some level. Maybe you short BTC at $30k. It then goes to $300k. You’re licking your wounds but anticipating the drop back down to 0. Except somehow price snaps back to $45k and you’re still a loser.