Biggest Crypto Mistake: Shorting Bitcoin - page 3.

Plaguedeath

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Biggest crypto mistakes:
1. Buy rug pull coins.
2. Buy high, sell low.
3. Hand your coins to scam or liquidated projects.

Shorting Bitcoin is when you make money if Bitcoin price down, imagine if you shorting when Bitcoin was $71K to $69K and recently when Bitcoin was $69K to $66K, you're already in profit!

In the long run, people who were shorting Bitcoin can just to hold Bitcoin for long term, why should someone choose either shorting or holding if they can do both? Huh

kryptqnick

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Join the world-leading crypto sportsbook NOW!

I've had some success with altcoins in 2017, but I've also had some failures later, when the altcoin bubble burst and most altcoins never returned to their former price level. So nowadays, I agree that Bitcoin is the safest bet among cryptos, and it seems likely to pay off in the long run. It's more of a question of how much it will pay off and how long one needs to wait for that to happen. There are also other options like gold or, in some cases, even relatively stable fiat like the USD, which can widely outperform local fiat currencies.

Obim34

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Quote from: Nheer on June 11, 2024, 09:13:39 AM

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

The most important thing is getting the timing right and believing in what works best for you. Some people believe in shorting and it have been working for them and were able to claim some profits, i believe it’s about knowing what works best for you and sticking to it but i think long term can be more profitable.

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

But here's the golden rule: Never bet against Bitcoin.

You bet against it your loss.

Every investor is entitled to his own approach to investing in Bitcoin, a few will prefer trading while some will aswell try as much to invest in for the long run but the fun fact is that all amounts to making profits, but when we try to get deeper we can mostly figure out that it is considerably the best to invest for the long run. A lot of investors has done this and it continuously keep working , those who would find it not profitable are those who are yet to understand the very two seasons of the market which is the bull and bear, this said investors panic once it gets to the bear season and you will see them sell off but a well detailed investors who understand the basics will understand that it is another time to invest even more rather than sell.

Nheer

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Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

The most important thing is getting the timing right and believing in what works best for you. Some people believe in shorting and it have been working for them and were able to claim some profits, i believe it’s about knowing what works best for you and sticking to it but i think long term can be more profitable.

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

But here's the golden rule: Never bet against Bitcoin.

You bet against it your loss.

Sim_card

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Quote from: davis196 on June 11, 2024, 07:07:57 AM

Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Do you really understand how the "bears" are making their profits? They are selling at high prices, buying at lower prices and keeping the profits. Selling BTC at 70K USD and buying back BTC at 60K USD doesn't mean that they are leaving the Bitcoin market or betting against Bitcoin. Shorting is basically the same process as selling high and buying low(the opposite of what the "bulls" are going-buying low and selling high). There's nothing wrong with shorting Bitcoin. The BTC price will always have it's drops and bear markets here and there. The bears aren't doing anything illegal or morally wrong. This is an open market and the traders on that market can choose whatever strategy they want to make a profit.

It is cool when professional traders are trading and making profit from shorts no matter how little it is. What I am concerned is the newbies that just got into the crypto space, who does not have the knowledge about the market jump into trading and loss all their capital. Such people should stay away from trading, because it is easy to be a long-term hodler than short-term. Bitcoin market is risky and needs solid trading skills to survive in the market.

davis196

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Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Do you really understand how the "bears" are making their profits? They are selling at high prices, buying at lower prices and keeping the profits. Selling BTC at 70K USD and buying back BTC at 60K USD doesn't mean that they are leaving the Bitcoin market or betting against Bitcoin. Shorting is basically the same process as selling high and buying low(the opposite of what the "bulls" are going-buying low and selling high). There's nothing wrong with shorting Bitcoin. The BTC price will always have it's drops and bear markets here and there. The bears aren't doing anything illegal or morally wrong. This is an open market and the traders on that market can choose whatever strategy they want to make a profit.

livingfree

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Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

You'll never get rekt if you know what you are up to. You plan your purchase and as well as your selling. It's not all about how the peak you're going to sell it later on.

But I agree about pooya87 that it's about the timing. Here is a situation, there were people that have bought at the right price long time ago but then sold eventually.

While there's a new buyer that have bought considering higher than that first guy but then sold later than them with a higher price.

Anyway, if you're planning to exit then plan it. But then, no matter how early you bought, how sooner you sell, it won't change that fact that Bitcoin is here to stay.

Hatchy

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Quote from: rohasnagpal on June 11, 2024, 05:24:33 AM

But here's the golden rule: Never bet against Bitcoin.

100% true mate. A lot of crypto investors makes this mistake of thinking that they can make profit from investing in shitcoins, the same way they had invested in Bitcoin. But unfortunately they end up losing so much capital in pumps and dumps scheme. Speaking from experience, I had lost some reasonable amount of funds from investing in shit coins some years back. I guess it was my first time to experience the FOMO in reality. I saw some friends who made good profits and didn't want to miss. So I rushed and used my money to buy the coin and unfortunately it dumped.

Bitcoin is far more profitable on the long term. We shouldn't even compare it with other cryptocurrency as they aren't even in the same level. I've seen my investments move from hundreds to thousands in few months, that's how good Bitcoin is.

Oshosondy

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Gamble responsibly

Bitcoin has been the most less volatile coin to trade and more predictable. I have been shorting it around $70000 to $71000 and I am making money from it.

But the disadvantage is that the profit is small. I use small amount and each $1000 bitcoin moves, I can only gain like $10. Which means I use the money that is 100 times lesser than bitcoin price.

There is more you need to learn about trading. Shorting can be more dangerous but there are times you should use it in overbought market and when the trend is bearish or when bitcoin is moving with certain price that you are certain about. Now bitcoin is moving within certain prices.

pooya87

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More than anything it's all about timing. Even though I would never short bitcoin but I wouldn't call it wrong per se. The problem is when people short bitcoin after the drop is over thinking (better say hoping) the price would go lower some more. This is when they get rekt.

For most people the best bet is to invest in bitcoin for long term rather than trying to play the market and make short term profit.

rohasnagpal

newbie

Activity: 3

Merit: 0

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Topic: Biggest Crypto Mistake: Shorting Bitcoin - page 3. (Read 398 times)