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Bitcoin will dramatically fall to $250k from the heights of $600k

• Sohcahtoa82 2y ago
  > heights of $600k Hopefully not too soon. I just bought $30,000 in BITI, an ETF that tracks the inverse of Bitcoin. Basically the only way to short Bitcoin from a typical retail investment account.
  • snthpy 2y ago
    Any particular signal for your trade? I hope you're right but bubbles tend to go through an exponential blow-off phase before the crash which often takes out shorts who were right but too early.
  • halfcat 2y ago
    This seems like a bad idea all around. BITI, like many “ETF that tracks ___”, tracks daily changes, which means as price chops around you’re continually losing value, i.e. BTC can break even over a year and BITI will lose value. Then there’s the issue of it tracking a deflationary instrument that is essentially guaranteed to rise over time unless it were completely eliminated, just due to people losing BTC via bad/lost hard drives.