Shorts are underwater and the price is rising...hm what next?
What's up my favorite people,
That spike in shorts occurred at a price of $72-7300. They are all underwater and fast sinking. Be careful if you are short. I understand that the price is high relative to recent figures, do you understand that it is incredibly low relative to what it will be in a decade? You must be careful shorting bitcoin because of this fact. Everyone of those shorts is out of the money and they all have to close at some price. If the end of the bear market comes, they will be a good part of the pump above $8500. Someone has bought over 35,000 btc in the past month on bitfinex. This is not exactly bearish.
Good luck and don't be short without a stop!
-YoungShkreli
That spike in shorts occurred at a price of $72-7300. They are all underwater and fast sinking. Be careful if you are short. I understand that the price is high relative to recent figures, do you understand that it is incredibly low relative to what it will be in a decade? You must be careful shorting bitcoin because of this fact. Everyone of those shorts is out of the money and they all have to close at some price. If the end of the bear market comes, they will be a good part of the pump above $8500. Someone has bought over 35,000 btc in the past month on bitfinex. This is not exactly bearish.
Good luck and don't be short without a stop!
-YoungShkreli