Will YFI go down again?

[ScamViruS]

You misunderstood the work of this coin. This is not an ordinary coin or a separate coin. It is in YFI's leverage coin binance. Binance has another one coin called YFIUP. You can take long and short positions of YFI by trading these two coins YFIUP/YFIDOWN.

Before investing in such leverage coins, one must be careful enough because there is a high risk. Adequate research should be done before buying any coin so that such mistakes can be avoided.

Binance Leveraged Tokens are tradable assets (off-chain tokens) in the Binance spot market that give users leveraged exposure to the underlying asset. Each leveraged token represents a basket of perpetual contract positions. The price of the tokens tracks the change in notional amount of the perpetual contract positions in the basket and changes in the multiples of leverage level.
YFIUP - allows you to generate leveraged gains when YFI increases in price.
YFIDOWN - allows you to generate leveraged gains when YFI decreases in price.

Source: https://www.binance.com/en/support/announcement/82cfbdf59b224599bd9102b77cc61127

[Shasha80]

I don’t think I can predict the price movement of this coin, because it’s too fast, even in a matter of days it can go up tens of percent and can go down a lot as well. Although all cryptocurrencies are at risk, if I look at the movement of these coins I see more risk than other krypto coins. Unlike the old altcoin, that can be predicted movement and can be learned its nature. Buying YFI coins will profit in just a matter of days. In fact, many people get rich because of this coin, but the risk of losing it is also huge if it can’t determine the right steps and strategies.

[southerngentuk]

I don’t think I can predict the price movement of this coin, because it’s too fast, even in a matter of days it can go up tens of percent and can go down a lot as well. Although all cryptocurrencies are at risk, if I look at the movement of these coins I see more risk than other krypto coins. Unlike the old altcoin, that can be predicted movement and can be learned its nature. Buying YFI coins will profit in just a matter of days. In fact, many people get rich because of this coin, but the risk of losing it is also huge if it can’t determine the right steps and strategies.

I will not have much opinion on YFI in the near future, as there are many better options right now, i think you can spend a little time to learn about ETH, DOT, LINK, BNB,.... I always think that the all supply is so small, it is really making many new investors feel afraid to buy it, because of psychology. They are very little interested in the market cap but only look at the price of the coin, which proves through the crazy increases of YFI this year it is more controlled than decentralization .

[tvplus006]

It is very risky to invest in FYI especially among traders because many are surprised by the fall in its price, so it can be said that those who bought FYI coin lost a lot when its price was too high, many investors and traders did not expect this will happen so before investing in projects it is better to check it first and wait for the opportunity so that you do not go bankrupt or be scammed in the steps you take.

All cryptocurrency is very risky in terms of investment. But for the trader, the high volatility of the coin, such as we see in YFI, is important first of all. Even those who bought this token at the very top for 44 thousand dollars could get a very high profit if they entered the position short in time.

Yes, make yourself clear with the plan. Whether you're with plans of buying it for long term holding or for trading needs. If you're into trading then YFI is the asset for you. You can buy without any big mind correlation. By the time find the right moment to buy, the fluctuation with YFI is found in large scale in very short time period. So make use of the downward market to make use in trading.

You can't invest in tokens like YFI for a long time. I use it for short-term trading with a mandatory stop loss setting. Of course, such DeFi tokens are easier to trade short, since they mostly lose their price. But this does not mean that they can not grow in price by 50% in a few hours.

[Kahoy01]

Of course it will go down again, I will ask you a question if there are certain cryptocurrency that keep rising where it did not yet experience to go down even once? Of course there is no certain cryptocurrency like that. It is all about market cycle where it is the reason why the YFI goes down because a lot of people want to sell the YFI they have because of the fear. Right now, the YFI is trying to reverse and for me it is a good sign but still there are always downside in trading.

[Inspiron14]

I thought something like this would happen. Most likely it could go up and it could go down. It's better to just be safe after profiting from the trade to move to another place as a project like this won't last long.

If a lot of staking and liquidity are maintained, YFI will still be alive,
currently there are still a lot of liquidity at Uniswap, and YFI is still Defi's favorite token, yes the mid term is still feasible,
but in the long term I also don't recommend.

[Wysi]

First understand the concept of Yearnfinance and it's too risky if you wanna invest or HODL then please go for some other coins not YFI as the value might fall anytime and to be honest all the crypto investments are subject to highrisk but atleast there are stability and history of fightback with coins like Bitcoin, ETH, and other top altcoins but YFI does not fall in this league.

[Sterbens]

I don't think you should invest in a project if it's just going to make you lose money, not just looking at the price from $ 2 dollars to $ 24 at the time. Isn't it obvious that a pump of that size is soaring. usually played by a group of people whose patterns trick you. with the lure of a significant increase.
invest in trusted crypto assets, Always seek as much information as possible, not just relying on one or two references. because it is not a matter of glimpse of profit, but it is prolonged from time to time.

[Nhebu]

Since from the start the this farming tokens existed. I never dream to buy them all even they are hyped by many traders. YFI did something great for the past few months as well as YFii. You can buy it right now because many altcoins turn down during bitcoin volatility. But, just a few reminder brother. You must keep an eye with your investment specially they are all volatile.

[Johnyz]

Hey, I was wondering if it's a good time to invest in YFIDOWN since it's 2 dollars and a week ago it was 24. Thanks!

YFIDOWN is very young!

Therefore it is very volatile and you risk losing!

Invest in ETH or Bitcoin which is safer right now!

Don't forget about ADA, XLM, EOS, LINK, which are very good too ...

Great advice so far and there’s a lot of YFI named project so its too risky to gamble with that, if you want stable profit better to always go on the top options. Bitcoin is pumping right now and might hit another peak if the trend continues so might not want to miss this opportunity and do grab good coins now. YFIDOWN is a hype project, and imagine it already reaches the bottom which is very alarming as an investor.

[darewaller]

It is definitely overpriced, there is absolutely no reason why it should be this high, it moved from 8 to 18 levels in a week and it has no reason for that at all. These type of projects that increase this much has always scared me a lot, when there is a news or a big deal and price of a  project goes up I understand it because we can provide proof of why it went up with that news, however when there is nothing going on and it is ordinary, I do not feel like it deserves the big increase it got.

This could lead to two things, either I do not understand the project well enough (which is totally possible, I am not an expert) or it will crash soon and become a lot less than what it is today. I fear that yfi will be second one and will drop under to a certain level once again.

[mnporter2001]

Hey, I was wondering if it's a good time to invest in YFIDOWN since it's 2 dollars and a week ago it was 24. Thanks!

This is not a good time to buy YFI and hold it. Currently, there are a lot of bad news about Defi trend in general and Defi projects in particular.
As Bitcoin actually grew, it eclipsed Defi's hype, which reduced the transaction volume on Uniswap and had more scam projects than before.
Besides, APY has just been hacked 2 million DAI right in their hot wallet. The security issue of Defi projects is really problematic and investing now is very risky.

[Teraboy]

Since from the start the this farming tokens existed. I never dream to buy them all even they are hyped by many traders. YFI did something great for the past few months as well as YFii. You can buy it right now because many altcoins turn down during bitcoin volatility. But, just a few reminder brother. You must keep an eye with your investment specially they are all volatile.

it's not about the real YFI but it's about the leverage coin of YFI that issued by binance. I think that you must also read it properly and what already mentioned by OP was YFIdown and this is only available on binance. It looks like this coin will never go down again and the YFIdown will stay at the same posiition.

[serjent05]

Since from the start the this farming tokens existed. I never dream to buy them all even they are hyped by many traders. YFI did something great for the past few months as well as YFii. You can buy it right now because many altcoins turn down during bitcoin volatility. But, just a few reminder brother. You must keep an eye with your investment specially they are all volatile.

it's not about the real YFI but it's about the leverage coin of YFI that issued by binance. I think that you must also read it properly and what already mentioned by OP was YFIdown and this is only available on binance. It looks like this coin will never go down again and the YFIdown will stay at the same posiition.

How sure are you that YFI will never go down again?  If you look at its price chart history, after its massive surge to $40k  it ever since going down.  There might be some pump surges but I think YFI has nothing new to offer in the market yet so I am expecting that will eventually go down to its actual value, unless YFI whales decided to take profit again and pump it hard.

[SlimShadyMmp]

I really doubt that I mean they are one of the first DeFi with so many listing all over and for some reason I think they will stay for a very long time Only that dont expect crazy gains like the ones at the start of deFi craze until something new comes along

[BChydro]

~
How sure are you that YFI will never go down again?  If you look at its price chart history, after its massive surge to $40k  it ever since going down.  There might be some pump surges but I think YFI has nothing new to offer in the market yet so I am expecting that will eventually go down to its actual value, unless YFI whales decided to take profit again and pump it hard.

It looks like he was sarcastic about the situation  . This is a massive pump and dump market and the DeFi market will attract all the pump team that were pumping the hell out of shit coins in the past and i guess that is what is happening in the market and it is hard to understand when the bubble will be broken. So anyone willing to take risk should be aware of the situation and get out without getting on the wrong side.

[justdimin]

Nobody could be sure about YFI going up or down, we will never know which direction it would go because if we knew that, like knew it so well that we have zero doubt in our mind which direction it will go, we would all sell our things and take out a huge loan and just go into YFI.

If I think it will go up, without a doubt in my mind, I would sell my house, my car, put all my money and take out as big of a loan as bank allows me to take and put it all on YFI, even if I make about 25% or so profit from that, it would be a huuuge number for me to continue with my life since I would be going in with that much money. Now if a person is not going in it like that, they do not know it and that is why I keep saying do not be sure about anything, question all your thoughts.

[Sterbens]

Since from the start the this farming tokens existed. I never dream to buy them all even they are hyped by many traders. YFI did something great for the past few months as well as YFii. You can buy it right now because many altcoins turn down during bitcoin volatility. But, just a few reminder brother. You must keep an eye with your investment specially they are all volatile.

I speculate that there is a special team behind the YFI trade, such as fast pumping with incredible pump power. most of them use this trick to attract many investors. Try to imagine a token that was still under bitcoin for a few months, shocking the crypto world. So that's my assumption, that there is a special team playing YFI price movements.

[Psynthax]

I really doubt that I mean they are one of the first DeFi with so many listing all over and for some reason I think they will stay for a very long time Only that dont expect crazy gains like the ones at the start of deFi craze until something new comes along

YFIDOWN will be reacting when the price of YFI goes down. That means if YFI will not be going down and YFIdown will always go down to the bottom.
YFIdown and yfiup are strongly correlated with the trend that happened with YFI.
YFI down and YFIdown will be going up and otherwise when YFI goes up and YFIup will be doing the same like YFI too.

[Oceat]

I really doubt that I mean they are one of the first DeFi with so many listing all over and for some reason I think they will stay for a very long time Only that dont expect crazy gains like the ones at the start of deFi craze until something new comes along

Nah, if I see a price dump already after the hype then I won't bother to reinvest on it again. It's already a sign that they were dumping and there's no way you could get back what you lost. This is how the new altcoins projects did every now and then I wonder why people still risking their money hoping to gain with it? If you can't follow a project properly and missed the chance to buy during low or sell during pump, I don't think altcoins should be your first choice.