Cryptocurrency

[ChimpMaster]

Exactly this

Do you mean you borrowed physical BTC to sell, i.e. a real short position.

Or as I understand it you just sold your long position in BTC and are simply waiting to buy in again? So you're actually making profit from the price fall.

I only ask because I would be interested in shorting it. The only real way appear to be by shorting investment trusts like GBTC but price movements do not always correspond so well.

[VirtualMonkey]

Do you mean you borrowed physical BTC to sell, i.e. a real short position.

Or as I understand it you just sold your long position in BTC and are simply waiting to buy in again? So you're actually making profit from the price fall.

I only ask because I would be interested in shorting it. The only real way appear to be by shorting investment trusts like GBTC but price movements do not always correspond so well.

No borrowing involved.
Most of us traded BTC back into USD yesterday and the price for BTC has now just dropped below the price I traded out at...so effectively if I buy back now I'll get more than I sold.

[scooterscot]

Nope, I'm staying out for now. You still think it will drop right down to $10k?

30-50% off the ATH is likely, so $11k anyway to the trend line. But ofter a panic will result in over sold coins so $9k is possible.

[VirtualMonkey]

Just my own thoughts but....using the previous trend line (from before this manic stage) and assuming the downward channel (i know it's roughly drawn) stays about the same, we should see about 12.5k this evening
who knows what the US will do to this idea though

[scooterscot]

If you must trade alt-coins right now, trade with those that are paired with the $ as well as BTC. As such LTC and ETC are good bets right now...

[VirtualMonkey]

I have a conditional trade set so that if the price hits 9600 then I'll try and buy at 9300...50% profit(ish) based on originally exiting at about 14400

[scooterscot]

double double head and shoulders - this could get ugly...

[FrontEnder]

Do you mean you borrowed physical BTC to sell, i.e. a real short position.

Or as I understand it you just sold your long position in BTC and are simply waiting to buy in again? So you're actually making profit from the price fall.

I only ask because I would be interested in shorting it. The only real way appear to be by shorting investment trusts like GBTC but price movements do not always correspond so well.

I've said it a few times in this thread: you can borrow to short on Poloniex. There's probably other exchanges you can too.

[scooterscot]

I have a conditional trade set so that if the price hits 9600 then I'll try and buy at 9300...50% profit(ish) based on originally exiting at about 14400

Have done this in the past, 9/10 I've ended catching falling knives.

I'd advice waiting to see when the next uptrend begins rather than second guessing the market. It could continue to plunge to $7k or $4.5k which it was trading for only 60 days ago.

[VirtualMonkey]

If you must trade alt-coins right now, trade with those that are paired with the $ as well as BTC. As such LTC and ETC are good bets right now...

DLAVrov thinks LTC is good to go now too
https://www.tradingview.com/chart/LT...y-Opportunity/