Strange that it is clam on coinbase and Gemini ???? I read some comments and non of this makes sense. Does this thing even trade or it all virtual games ???? Can someone explain ?
That's one country out of 195. If anything their ban further proves my point. They're banning crypto shortly before releasing their own CBDC within the next 3 months...just as China banned BTC for the thousandth time before doing the same thing. They know the potential of this technology lol
Don't worry. We are ready to profit massively from the mother-of-all TULIP MANIA. Looking forward to BTC dropping from 5 digits to 4 to 3 to 2 to 1 and that is where it belongs. It makes sense for TSLA to go from $4 to $1200. Its profit is growing massively. It doesn't make sense for BTC to go from 1 digit to 5 digits. Is BTC profit (if any)/intrinsic value growing?!?!
Then you can short it no? I hardly think it goes to 3 digits. That is just ignorant on your part really.
I don't short blindly. My dream is to profit massively from the mega Tulip Mania. Tulip Mania happens once every few hundred years. It might /might not happen in this generation. What is certain is that it will crash one day. Then there will be many happy traders. When will it crash? no idea. If you feel it is going up, by all means, go long it. Different traders trade differently. So trade based on your own analysis.
I am sure that the main reason for the panic is that most cryptocurrencies do not have any kind of backing and their popularity is growing quite chaotically. In most cases, they are not backed up by some kind of technological rationale, and this also looks ambiguous, so it is not surprising that such a high demand for them has become a reason to think about at least some kind of control. According to statistics, more and more people are starting to make investments or store their costs in cryptocurrencies. This is really something that has not happened on the exchange before. In addition, it accordingly distracts attention from the usual gold, dollar, stocks and other things, so that it will be relevant for so many years.
You can easily short on KuCoin. Its one of my favorite exchanges right now. I see options to buy 3x short tickers on the main coins, and you can also use the margin feature to do 10x. Plus, they have futures as well which provides 100x. I think before you think about getting paid your sure fire windfall, you should think about how damaging it will be to enter a short position. Ask any TSLA short over the years how well they did. Most recent casualty was Michael Bury. And don't get me wrong, I think its highly over-valued, but it doesn't mean you should short it. I do agree that the failing of USDT will cause major problems. Heck, KuCoin mostly runs on USDT, but I notice the most popular pairs also have the USDC equivalent. Hmmm.. maybe I should be using those instead of the USDT versions and holding USDT. But I will tell you one of the things that made me go 180 on crypto. Too many politicians are now involved with it as well (saw this in a CTO Larsson video). No way in hell they are going to crash their own party. Sure, some tokens will get labelled as a currency or security which will impose restrictions, etc, but as a whole, the market is moving forward. The other way I look at it now is from an asymmetrical risk perspective. BTC will I'm sure do a 10x over the next decade, and perhaps much sooner. Some of the other chains will do even more. Can you really afford to miss out on putting even just 10% of your net worth in this asset class? The dollar losing purchasing power follows an incredibly stable downtrend, so cash is clearly out the window. Bonds earning several percent are also clearly trending down when you account for inflation. I was a precious metals bull but you can't ignore how awful these charts looks in comparison to equities and especially crypto. So what is really left?