A few months back, when BTC dumped to nearly $3200 (or it is $3800) at the beginning of the corona outbreak, a guy from my local who is now living in UK had posted in his facebook that "This is the end of bitcoin. I knew it has to be someday, there it is." I had nothing to say other than asking him to do his homework before doing such speculation. Well, I just have remembered that post and spent a few minutes to find that post and poked him the screenshot of
1 BTC equals to $16602. Guess his feeling now
If everyone on the planet understood the value of Bitcoin, there would be no way for us to buy it at a low price. Therefore, it is very good that there is such a guy!
Many people do not consider Bitcoin to be a scam. However, they think Bitcoin is purely a speculative asset.
Many traders are proud of the fact that they know how to make a profit not only on the growth of the asset price, but also on the fall in its price. However, shorting Bitcoin is always dangerous.
If a person is not buying bitcoins, they are missing out on a great opportunity.
Shorting a deflationary asset could lead to disaster. In 2020, a lot of traders lost their money in the cryptocurrency market.