Massive shorts liquidations, $millions in losses as Bitcoin moons

[BillyBobZorton]

Wow, just look at this:



You can follow the Bitfinex bot here:

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The fact that people are stupid enough to short Bitcoin at any rate never ceases to amuses me. Why would anyone be insane enough to short Bitcoin? you are sitting on cutting edge technology 10 years ahead of the curve, all you have to do is literally accumulate on each dip, sit back and get rich as fuck long term.

Please guys, stop doing drugs, and stop shorting Bitcoin, for your health's sake.

[1715076301]

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[1715076301]

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[magneto]

The strategy that is the most basic and yet works the best is probably just buying the dips, and hold.

I agree with you, why would anyone be stupid enough to short bitcoin? Even in a bear market, pumps like this happen all the time and if you're shorting then honestly you're just asking for your position to be liquidated. Seriously, just buy and hold. Shorting is way too much risk for not a whole lot of return.

We seem to be settling in at around $7600-7700 after the price eclipsed $8000.

I can't believe how many people were shorting bitcoin just on that subreddit alone, and hell, all of their positions are being liquidated now which is one of the factors in BTC rising so high.

[harizen]

Wow, just look at this:



You can follow the Bitfinex bot here:

https://twitter.com/bitmexrekt

The fact that people are stupid enough to short Bitcoin at any rate never ceases to amuses me. Why would anyone be insane enough to short Bitcoin? you are sitting on cutting edge technology 10 years ahead of the curve, all you have to do is literally accumulate on each dip, sit back and get rich as fuck long term.

Please guys, stop doing drugs, and stop shorting Bitcoin, for your health's sake.

Lesson Learned: Fight the feelings lol

It may be stressful for others to see the recent crash but instead of taking advantage of it, they did a "wrong" move. Bitcoin is not a profit making tool for short term and still others got went on the wrong way eventhough it should be obvious especially for those people who are in crypto in many years, how price behaves.

Hope others can cope up this time.

[Eternu]

The strategy that is the most basic and yet works the best is probably just buying the dips, and hold.

I agree with you, why would anyone be stupid enough to short bitcoin? Even in a bear market, pumps like this happen all the time and if you're shorting then honestly you're just asking for your position to be liquidated. Seriously, just buy and hold. Shorting is way too much risk for not a whole lot of return.

We seem to be settling in at around $7600-7700 after the price eclipsed $8000.

I can't believe how many people were shorting bitcoin just on that subreddit alone, and hell, all of their positions are being liquidated now which is one of the factors in BTC rising so high.

Actually I believe that holding for shorter periods of time can bring you more profit than holding it for longer periods. It demands more invested time and lots of work, but at the end profit could be higher.

People forgets that most of investors are newbies and that they know little about the matter. Most of them can not afford to lose money, and because of that they act on emotions. Because of that they make mistakes.

But honestly, just holding is bad for market. Constant trading is whats keeping market and price going. Active trading and using is bringing the price up, not holding. At least that is how I see things.

[Kingofbitcoin12345]

Let them do what strategy suits them.. It looks stupid and from a long term hodler like me this sounds impractical,, but that just the way it is for them.. Daily trading is much riskier and too much work to handle by in my capacity and capability.. This traders are impatient or just risk taker who value experience and knowledge after a mistakes or disaster..

I do respect they’re way as long as they limit themselves on 50/50 scale of short and long investors.. Too much of one can’t be good to bitcoin price and market..

[aoluain]

risky business.
It looks like there is no real "reason" for this sudden jump in activity.
Crypto is just too unpredictable and volatile, anything can happen at any time.

[figmentofmyass]

risky business.
It looks like there is no real "reason" for this sudden jump in activity.
Crypto is just too unpredictable and volatile, anything can happen at any time.

i wouldn't say that. there were solid signs that this was an accumulation/bottom phase.

over a period of ~2 weeks, sellers made 3 solid dump attempts visible on the daily chart. each one was rejected hard and sellers couldn't force new lows. 3 attempts in 2 weeks, rejected? that means accumulation was occurring and demand at these levels was overtaking supply.

there were signs on the lower time frames too. there was an intraday dump attempt shortly before that $1000 hourly candle. it was almost instantly fully retraced. that was the sign to close my short---glad i did before price exploded!

[dothebeats]

Shorting is tricky and dangerous but to some experienced traders, it's worth a try. As what the meme says: "if it fits, I sits" and it could also be applied to these people who find shorting profitable and whatnot. However trying to fight the surge often leads to disappointments and holed wallets, same as to what happened to these folks thinking that they could outsmart the market. Idk why people tend to over-complicate things for a little gain. They could take the easier route of hodling but nah. Though thanks to them since they're adding a nice mix of personalities in the market which makes it more volatile and unpredictable.

[arpon11]

We have see how The price just changed within a minute therefore to short is very risky and to me we may have resume the uptrend market. Bitcoin is going towards  $8,000 by the end of this week and we should expect a pump toward $10,000 by end of this month.

[Pursuer]

The fact that people are stupid enough to short Bitcoin at any rate never ceases to amuses me. Why would anyone be insane enough to short Bitcoin?

shorting on its own is not a bad thing at all. it can give a very good amount of profit to those who are doing it correctly but the problem is that most bitcoin traders are always late to the parties. there is a time to short and a time to buy and a time to sell. as long as they are doing everything at its right time they will make profit and when they do it after that time was passed they will lose money.
the time to short was when price was falling, the media was filled with FUD saying x and y banned bitcoin...

[timerland]

Shorting is risky, but can be profitable. I wouldn't recommend any inexperienced traders doing it, however. Otherwise, you will end up getting into a short squeeze finding your position gone just like this time with many people. Also, I find shorting in a bear market that has already been going on for 4 months pretty illogical, since a pump was due sooner or later.

But price of bitcoin has really jumped up high today. Didn't expect that at all.

Is it really the time when bitcoin starts "mooning" again, though? I think we'll probably experience more dips, before a solid recovery takes place. There is a chance that we've already seen the bottom of this bear market, albeit a very small one imo. So this huge 20% pump today isn't sustainable, imo.

[stompix]

The fact that people are stupid enough to short Bitcoin at any rate never ceases to amuses me. Why would anyone be insane enough to short Bitcoin? you are sitting on cutting edge technology 10 years ahead of the curve, all you have to do is literally accumulate on each dip, sit back and get rich as fuck long term.

Please guys, stop doing drugs, and stop shorting Bitcoin, for your health's sake.

Let's see, would you have said this when bitcoin was at 15k?
Was it stupid to short it the other month when it dropped to the 6k mark?
How many bulls have been reckt since December?

There are people that made a lot of money out of shorting BTC there are a lot that lost millions just like the ones that have done the opposite. Of course we could all just hold, but that would mean no markets, no trading, no nothing.
Just bidding on the few coins miners offer for sale when a block is mined.

It will take all the fun out of it

[B1tUnl0ck3r]

Wow, just look at this:



You can follow the Bitfinex bot here:

https://twitter.com/bitmexrekt

The fact that people are stupid enough to short Bitcoin at any rate never ceases to amuses me. Why would anyone be insane enough to short Bitcoin? you are sitting on cutting edge technology 10 years ahead of the curve, all you have to do is literally accumulate on each dip, sit back and get rich as fuck long term.

Please guys, stop doing drugs, and stop shorting Bitcoin, for your health's sake.

MONEY WAS NOT LOST LOW KNOWLEDGE INDIVIDUAL !!! IT WAS JUST TRANSFERRED !!!

[fabiorem]

Is roasted bear a tasty meat?