Why is no one talking about shorting alts?

[hatshepsut93]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

[1715101566]

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[1715101566]

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[newminerr]

People who are doing it and making crazy gains don't lurk around here or anywhere,
The hype you see in crypto space on your regular social sites are all created by pumping money to influencers pocket to drive the price to new heights,

Here is the strategy :
-Pump money, crazy marketing  and Make gains on bull market,
-Regular Joes starting cashing out, Short & silently make even more money

🔥🔥🔥

[nomenclatur]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

You can see that currently, Doge is indeed a hyper pump that occurs in many coins but in contrast to Dogecoin which can penetrate the top 4 coinmarketcap doge, it is extraordinary how the whales are very compact to increase Dogecoin so far there will definitely be even bigger surprises for Dogecoin. much more expensive or more or less reaching a much higher price value than it is currently I believe the Elon musk will also provide a bigger surprise.

[adaseb]

Let me to tell you a story.

Back in 2017 there was a guy who had 100 BTC on Poloniex. He saw that Dash went to $100. Since it traded at $10 recently, he assumed it was a safe bet to short at $100 because there is no way it would hold its price of $100. So he opened a VERY LOW LEVERAGE short on Poloniex.

Fast forward a few months, he gets a margin call email saying he needs to provide more margin or his position will get liquidated if DASH hits $1000. He didnt have any BTC to provide margin, DASH topped at $1400, he got liquidated and lost it all. Then a few months after I think it went back down to $100.

Search for this story somewhere on Bitcointalk. No idea if the guy still posts.

But for the love of god, don't short alts in a crazy market like this.

[Ararbermas]

Shorting in alts is very clever and it takes more time just to make profits. Especially through unknown projects because they are not that easy when it comes making prediction unlike top coins in the market wherein has high possibility to have a high win rate. For me only experienced traders will do that shorting because they are the only one who can manage risky situation and not safe for just a simple trader..

[blockman]

That is a fact that won't be considered by many investors because they're already in and bought at the top. While the hype is going on with Elon's continuous tweets and awaited tweeting episodes.
They won't think about the scenario that "everything goes up must come down".

[Botnake]

It's not time to short altcoins yet, it's hard to go against the trend now, you will just lose, the correction will come and that is the best time to short altcoins,  as what wise investors said, always be patient, and that's why we should do now.

[Anonylz]

And it will go down fast when the hype is over and the whales are ready to take profit, doge is a perfect example of a hyped coin with no strong utility or usage but still pump like crazy anyways.
those who are buying dogcoin now really need to be on the look out, the coin already too pumped for any sane investor to be buying at this price, not a good decision in my opinion.  

[mirakal]

People follow the trend, when the market is bullish, they don't mind shorting it as most of the time, it will only cause them a problem. Look at the big picture now, and we can tell that the market has some crazy moves, even experts might be wrong on predicting when this bull run will stop or what coins will be the top performer this bull run.

The question is, does anyone of us here sees that DOGE will be the top performer in this bull run?
I'm sure the answer is NO.

[cryptoperkele]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

I don't want to underestimate the power of the meme and i don't want to play with it. I don't have anything against doge but losing my money against meme would be worst. And yeah it should go down imho, but then again, so should many other and doge isn't even the worst one of them. It's a funny meme coin, at least it's not a blatant scam.

[speedforce]

I have try to do that, but its like only 25% win when 75% of them got stop loss even liquadated. IMO,Its better to long with small leverage in this bullish season.
But most of my position in crypto always on spot, didnt need many strategy, just hold em tight.

[TimeTeller]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

I don't want to underestimate the power of the meme and i don't want to play with it. I don't have anything against doge but losing my money against meme would be worst. And yeah it should go down imho, but then again, so should many other and doge isn't even the worst one of them. It's a funny meme coin, at least it's not a blatant scam.

Not many crypto users are good at riding the hype. I truly understand that.
Sometimes it is better to keep your eyes on real projects with real use cases.
It is hard to trust a coin which has no clear future but depending on social media remarks.
That is actually scary to bet on. For me, it is better to hold coins that are established like eth and bnb.
At least you can say, they do have use case for crypto users.

[cabron]

If you follow an altcoin you would check the chart of it from time to time which will make you decide to buy. Most of those who follow are bounty hunters turned investors and hodlers. I somehow joined some campaigns in the past which up til today I'm still following some of them because I still hold some coins. I check the charts sometimes too.  But there are just coins that suddenly go up, this is due to the updates in which the team announces something good.

Doge holders knew Doge will rise because there is a guy up there who market and pump.

[wxa7115]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

Like always the problem is the timing, we know that dogecoin will go down at some point in the future but it is growing so fast that you are going to be destroyed if you decide to short the coin right now, it is better to just wait and only try to do that move once dogecoin begins to go down.

After all when that happens that will most likely be a clear sign that the altcoin season is over and almost all altcoins are going to begin to move down at the same time, the only thing I would like to know is if this is going to be accompanied by bitcoin going down or it is going to still grow in value as people decide to sell their altcoins and buy bitcoin instead.

[Fivestar4everMVP]

You can't say there's no justification to dogecoin hike in price when you already mentioned one which is the pure hype, hype is also a justification for prices of coin to go up, and with hype comes some level of adoption, like right now, dogecoin has no special feature or technology backing to guarantee the sustainability of the current price, but its been adopted by several persons, most have invested their life saving in dogecoin hoping it brings them great returns or profit, what else do we call adoption??
And for the shorting part, most altcoins don't have a futures market, atleast from what I know, so I stand to be corrected, coins with guaranteed futures markets are bitcoin and Ethereum, other coins I can't say for sure whether they have futures market, but I haven't seen any.

[go4crypto]

Shorting requires perfect timing and trading skills. Shorting a highly volatile crypto market that is bullish is a recipe for financial disaster. Taking profits on big price spikes is ok though.

[tabas]

Shorting requires perfect timing and trading skills. Shorting a highly volatile crypto market that is bullish is a recipe for financial disaster. Taking profits on big price spikes is ok though.

You don't perfect timing for it and trading skills. As long as you get some decent profit from that time, you can short at your will but sometimes the reason why a trader or investor stops to short.
It is because of the reason to aim for some more. And as that aim pursues to earn more, the time passes and that opportunity is being missed because of the market's volatility.

[GreatArkansas]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down.
(....)

This will also depend on the pair you are looking for, there are pair that is extremely bullish not the same with Doge which is totally risky as of the moment.

For an example of Ethereum, when it first touched $3,000 before, it wasn't able to see or touched the $2,000 level. And now it is trading nearly $4,000. It's really strong, a lot of buyers, and no one wants to sell. So shorting this kind of alts right now is like doing suicide.

Shorting requires perfect timing and trading skills. Shorting a highly volatile crypto market that is bullish is a recipe for financial disaster. Taking profits on big price spikes is ok though.

There are a lot of instances of why you will short particular crypto. Most of them are surely based on technical analysis.

[tippytoes]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down.
(....)

This will also depend on the pair you are looking for, there are pair that is extremely bullish not the same with Doge which is totally risky as of the moment.

For an example of Ethereum, when it first touched $3,000 before, it wasn't able to see or touched the $2,000 level. And now it is trading nearly $4,000. It's really strong, a lot of buyers, and no one wants to sell. So shorting this kind of alts right now is like doing suicide.

Shorting requires perfect timing and trading skills. Shorting a highly volatile crypto market that is bullish is a recipe for financial disaster. Taking profits on big price spikes is ok though.

There are a lot of instances of why you will short particular crypto. Most of them are surely based on technical analysis.

Shorting alts is a very tedious job to do. You should have good eyes on spotting which alts will have a very good potential. And no trader can precisely predict what may happen so you are just basing on the possible market movement. And only few alts can really be worth to take the risk with. This is why for those traders that will do the shorting, they need to be careful in selecting alts. Doge, eth and bnb for sure will not fall into this category at the moment.

[Febo]

Why is no one talking about shorting alts?

Monero is the most shorted coin. It sort of looks unreal since shorters have or infinity money or Bitfinex just make those shorts up. No other coin have at least a bit similar short longs ratio as Monero have.

[cabron]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

Like Doge's astonishing rise. It must come down after the rise. While it's true that it's going to go down, investors will just see it as an opportunity though. Hard to say if they are a newbie or not but seeing how much marketing had been established for this doge. An investor will often see the two sides, could this joke end, or could the could really stand out?

Altcoins are risky so its hard to know which coin will have its time to the moon and can you get some on time.

[praxe]

Why is no one talking about shorting alts?

Monero is the most shorted coin. It sort of looks unreal since shorters have or infinity money or Bitfinex just make those shorts up. No other coin have at least a bit similar short longs ratio as Monero have.

why are people shorting monero?

[slaman29]

I do see quite a lot of threads asking about it in other platforms, but the advice seems to be right now: follow the rally and the current.

The bubble will burst as you say but right now the momentum is still too strong. Most people even think it will carry on into 2022, but I'm taking a more pessimistic view and say that by the end of this year then we will see the top. That means the MOST conservative view still sees 6 more months...

[Febo]

Why is no one talking about shorting alts?

Monero is the most shorted coin. It sort of looks unreal since shorters have or infinity money or Bitfinex just make those shorts up. No other coin have at least a bit similar short longs ratio as Monero have.

why are people shorting monero?

I have no ideas but i can speculate. Maybe they believe that some China or USA ban is not incorporated in the price. Or is just simple market manipulation. Manipulation to buy cheap coins or manipulation to make look some other coin Monero is competing with stronger.

[Pierre 2]

Honestly I didn't short any of my altcoinS yet still I am sort of worried.  I think people are still in delusion of bull run that makes them enjoy to speculate and make money. It still works undeniable, lookinh at Shibu only makes you realize how nervous and fun to be part of crypto markets still. So why is noone talking about shorting alts question will be replied by me like this: Its not time yet.

[Fredomago]

Honestly I didn't short any of my altcoinS yet still I am sort of worried. 

It's tough as it can explode huge after you short it up, it's hard to buy it back when the price already pumped high.

I think people are still in delusion of bull run that makes them enjoy to speculate and make money.

Still believing that they can generate more inside this bull moments, instead of shorting they are waiting for more.

It still works undeniable, lookinh at Shibu only makes you realize how nervous and fun to be part of crypto markets still.

That's a huge generated money coming from that new hypes, just like how traders hypes when Doge still pumping too hard.

So why is noone talking about shorting alts question will be replied by me like this: Its not time yet.

There are many people who believe the same way, waiting for more and wanting to maximized everything.

[wheelz1200]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

I hear you and yes at a certain point alt shorter are going to make a TON of money but shorting into these bull runs have wiped people out.  Touch to call the top and with days of 10, 20,50% gains you can get margin called before you even wake up for the day.  Margin has a place but its not a good trading strategy for most.

[hulla]

It's hard to predict which altcoin will go up among all the thousand will have the market but it not hard to know the coin with a promising future if have experience in study possible altcoin user case in years to come.
About Dogecoin, only inexperience, hype follow and profit-seeking will invest in it because its concept was based on joke (meme), and last time I check investment should be something to joke about.

[Blitzboy]

It is dangerous to short any altcoin because we are in the middle of an uptrend. 'The trend is your friend'. This is the best statement for anyone who wants to become either an investor or a trader. Altcoin will go down. However, it will not happen to day, or even in the next month

[bussybuddy]

We all understand this, the newcomers of this market don't. They don't understand why it goes up in price and just get someone's advice that they'll be willing to pay for it, that's their problem, and they'll take time to learn money to this market for but the lesson.

[ashmodeus]

well , on this altseason ? , u must be kidding me, even without leverage we still get a big profit from alts, for example , ETC,MATIC,WRX , many many of alt has skyrocketed so fast, and u dare to short kind of things ? , not , not now or even anytime soon, we still far from over.

[efreeti]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

I hear you and yes at a certain point alt shorter are going to make a TON of money but shorting into these bull runs have wiped people out.  Touch to call the top and with days of 10, 20,50% gains you can get margin called before you even wake up for the day.  Margin has a place but its not a good trading strategy for most.

I would go so far as to say that shorting alts at this moment is nothing but a gamble. There is no serious downward force in the market and shorting a coin then going to bed, nah that's not a good idea. If you do it you should be awake watching exactly what happens and short reactively if at all. If you shorted DOGE in the wrong moment you would have been wrecked already as it made its comeback so quickly.

[Ridwan Fauzi]

Most altcoin price will be like that unless the altcoin price that has a high price like ETH and BNB. There is no manipulation for those price movement unless there is a bad information that can change a market sentimen then yeah we will see a huge dump. But, the altcoin that still has a low volum and even that has a low price that it can easily being manipulated by some investors who have a high capital. Like now dogecoin as you mentioned, I guess the coin price movement just be manipulated by Elon Musk and he spend a lot of money to buy the altcoin. This is why when he says something about this coin and the price will pump instantly and we just need a few days to see a huge dump for this coin price movement.

[LoyceV]

Let me to tell you a story.
~
But for the love of god, don't short alts in a crazy market like this.

There's a safer way to (more or less) short Doge: I had some, and sold some. If it keeps going up, well, at least I sold them much higher than they were just a few months ago. If they go down, which will most likely eventually happen eventually, I'll buy them back.
This way, I don't have the risk of an actual short position that gets liquidated, and I either end up with more Doge than I had before all this, or I end up with more fiat than that Doge was worth last year. I can't time the market, but I consider this a win one way or another.

[adaseb]

Let me to tell you a story.
~
But for the love of god, don't short alts in a crazy market like this.

There's a safer way to (more or less) short Doge: I had some, and sold some. If it keeps going up, well, at least I sold them much higher than they were just a few months ago. If they go down, which will most likely eventually happen eventually, I'll buy them back.
This way, I don't have the risk of an actual short position that gets liquidated, and I either end up with more Doge than I had before all this, or I end up with more fiat than that Doge was worth last year. I can't time the market, but I consider this a win one way or another.

This is what most people tried to do back in late 2017/early 2018 with BTC. They all bought BTC back at $10K thinking it was going to go back up and break $20K and head to like $100K or $1,000,000 according to McAfee. However look what happened instead. Broke $10K, went to $6K and then months later down to $3K.

With Doge its no different. You can buy it back cheaper however, how do you know its just a dip and not a bull trap. Because if the market did top just now, most likely Dogecoin would go back to the single digits if a bear market was to remain for a year or so.

So sometimes its just best to take profits, sell and don't buy it back cheaper.

[efreeti]

Let me to tell you a story.
~
But for the love of god, don't short alts in a crazy market like this.

There's a safer way to (more or less) short Doge: I had some, and sold some. If it keeps going up, well, at least I sold them much higher than they were just a few months ago. If they go down, which will most likely eventually happen eventually, I'll buy them back.
This way, I don't have the risk of an actual short position that gets liquidated, and I either end up with more Doge than I had before all this, or I end up with more fiat than that Doge was worth last year. I can't time the market, but I consider this a win one way or another.

This is what most people tried to do back in late 2017/early 2018 with BTC. They all bought BTC back at $10K thinking it was going to go back up and break $20K and head to like $100K or $1,000,000 according to McAfee. However look what happened instead. Broke $10K, went to $6K and then months later down to $3K.

With Doge its no different. You can buy it back cheaper however, how do you know its just a dip and not a bull trap. Because if the market did top just now, most likely Dogecoin would go back to the single digits if a bear market was to remain for a year or so.

So sometimes its just best to take profits, sell and don't buy it back cheaper.

Yes sometimes it is better to liquidate a portion and game over, don't try to catch a falling knife. It is exactly as you said and that mistake was made by a looooot of people! Not only with Bitcoin. Ethereum fell I think to $80 from $1400! You think rebuying at $1200 could be smart, same at $1000, the hype is still going and everybody hammering "HODL" into their keyboards. You buy back at $800, and again at $500... And then a few months later it breaks even the magical line of $100 and goes to I believe $80 or so. That hurts! Taking profit means taking profit from time to time and there is a good reason to stick to that sentence.

[wheelz1200]

Let me to tell you a story.
~
But for the love of god, don't short alts in a crazy market like this.

There's a safer way to (more or less) short Doge: I had some, and sold some. If it keeps going up, well, at least I sold them much higher than they were just a few months ago. If they go down, which will most likely eventually happen eventually, I'll buy them back.
This way, I don't have the risk of an actual short position that gets liquidated, and I either end up with more Doge than I had before all this, or I end up with more fiat than that Doge was worth last year. I can't time the market, but I consider this a win one way or another.

This is what most people tried to do back in late 2017/early 2018 with BTC. They all bought BTC back at $10K thinking it was going to go back up and break $20K and head to like $100K or $1,000,000 according to McAfee. However look what happened instead. Broke $10K, went to $6K and then months later down to $3K.

With Doge its no different. You can buy it back cheaper however, how do you know its just a dip and not a bull trap. Because if the market did top just now, most likely Dogecoin would go back to the single digits if a bear market was to remain for a year or so.

So sometimes its just best to take profits, sell and don't buy it back cheaper.

Very true.  When markets are going all out of wack sometimes its best to just sit on the sidelines after taking profit.  It will normalize again, shorting in frantic markets is just too risky imo.

[Sanitough]

The market is indeed crazy but we have some bad news now, maybe this would result to a big panic and we will see some dump. It's been a while since bitcoin was bullish after it went from $60k ath... so what's the catch here? I think it will just dump and that $60k will only be the ATH.

We know Elon is using his popularity by shilling crypto, the news came out that Tesla will stop accepting bitcoin, I think this one is huge and will have a negative impact on the market, that's where shorting the market comes in.

[Woodie]

Because we all want the market to go up and not being truthful about what's to happen!

But unfortunately in reality that's not how markets work because we have buyers and sellers coexisting and markets will soar and sometimes markets will dip, they must be a balance.

But crypto users who have been in the market will tell you when to short and when to long.

[adaseb]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

People who buy dogecoin because of fomo deserve what ever happen to them, many early adopter have said that more then 50% of dogecoin held by only less then 30 person. And doge coin used just for pump and dump has been happen many years ago. About shorting alt with laveraged ? Its not good sugestion because laveraged will rekt you faster especialy we are not going down yet.

The issue is not really with the rich list being held by a small number of people. This is an old coin and there is a large percentage of people who probably lost the private key because its was low value for such a long time.

The biggest issue is the huge miner supply coming in everyday. At these currently prices there needs to be $500,000,000 of buys to equal the amount of newly minted coins every month. And this doesn't include the amount of sellers which bought at $0.01-$0.10 who want to take profit at $0.50 or $1.00.

Its basically not a question of if but when will it go back down.

[wxa7115]

Honestly I didn't short any of my altcoinS yet still I am sort of worried.  I think people are still in delusion of bull run that makes them enjoy to speculate and make money. It still works undeniable, lookinh at Shibu only makes you realize how nervous and fun to be part of crypto markets still. So why is noone talking about shorting alts question will be replied by me like this: Its not time yet.

And just one week later and it seems that we are there already, it is incredible how this market can change so quickly, a few days ago altcoins were still doing great and now we are seeing a massive drop in almost all coins in the market.

It will be interesting to see what comes next, to me this is not enough to announce that the bull market is over but we are getting close to the point in which most people will be unable to keep holding their coins and we could see massive panic in the altcoin market, especially those that invested in dogecoin as there was not really a good reason for them to invest in that coin other than hype.

[ingiltere]

Never short coins, even if you are one hundred percent sure. I stay away from margin trading, only do spot trading and buy coins and hodl mentality. The market is not grow enough, there are a lot of manipulations. It's easier to manipulate because crpyto currency world is still too small. You never know when it goes up and when it goes down. You can guess it will go down but you don't know about timing. Then you may lose money even if you are right.

[wxa7115]

Never short coins, even if you are one hundred percent sure. I stay away from margin trading, only do spot trading and buy coins and hodl mentality. The market is not grow enough, there are a lot of manipulations. It's easier to manipulate because crpyto currency world is still too small. You never know when it goes up and when it goes down. You can guess it will go down but you don't know about timing. Then you may lose money even if you are right.

On my research I have found out that shorting the market is almost always not profitable and taking into account that it is impossible to test the real market conditions in a test like that then it is fair to say that shorting this market is completely unprofitable and you are taking a risk over nothing.

And there are many reasons for this, this market has the tendency to go up over the long term which means holding is a winning strategy and shorting it is the fastest way to lose all your capital, if to this we add the fact that exchanges sometimes find difficult to keep up with the increase in the activity and slippage increases then it is almost impossible to make profits while shorting the market.

[Amejoaquim]

Ya i invested on DOGE to but i only buy for short term investment.

Before the SNL, i just following the hype when ELON say something about this coin and i straight to buy this coin and wait untill i gain 5-10%.

[ahsanif]

some altcoins do have the potential for multiple benefits in the future
i think if the short term is quite risky with bit profit but if done continuously the results will probably outweigh the long term

[adaseb]

Ya i invested on DOGE to but i only buy for short term investment.

Before the SNL, i just following the hype when ELON say something about this coin and i straight to buy this coin and wait untill i gain 5-10%.

I tried setting up some type of API where if Elon tweeted about Doge, then it would automatically buy however you would be surprised how many people out there are already doing that. And honestly most of the time ,the entire move completely retraces. It seems its better to just short the rip, put in a tight stop and short it back down to where it started to rally from.

This is a guess common. Basically if too many people do the same thing then obviously it won't be profitable anymore and this is pretty much what happened. I am surprised that his tweets have so much power to be able to make the market cap change in near seconds by his tweets.

[Dollar_Hunter]

well, if that is the case, you should not hesitate in installing short leverage, but in fact the market will always be 100% unpredictable, for that you need planning and the worst predictions that will happen if your predictions fail.
all coins indeed will not always go up and also not always go down, but only applies to good coins, and not shitcoin,fomo,hype at that time.

I totally agree with you and after all we already know that the market is very volatile,
so of course we need backup planning or strategy because I think it's very important,
that's why we have to be smart in choosing coins for investing or trading

[ethereumhunter]

I am not very often shorting altcoins but I did that when dogecoin is down. But not take too long for me to close the trade as I am afraid that the price is going up after that. If you can analyze the trend, you can try to shortlist the altcoin but do not use too big leverage as the market can go anywhere. Maybe less than 20% of the leverage will be better to short and do not forget to close the trade after reaching your profit because the price can bounce to a high price if more supports come to that coin.

[leea-1334]

I tried setting up some type of API where if Elon tweeted about Doge, then it would automatically buy however you would be surprised how many people out there are already doing that. And honestly most of the time ,the entire move completely retraces. It seems its better to just short the rip, put in a tight stop and short it back down to where it started to rally from.

This is a guess common. Basically if too many people do the same thing then obviously it won't be profitable anymore and this is pretty much what happened. I am surprised that his tweets have so much power to be able to make the market cap change in near seconds by his tweets.

I am totally not surprised that there are hundreds and thousands of bots and alts doing this,,, very old and recognized strategy used to be McAfee tweets;)

But yes it would be so good to just short alts every time he Tweets (since they will be already too late to buy).

But DOGES and when he Tweets sell though is the only way most people can do unless somebody knows about DOGE futures?

[rodskee]

Because we all want the market to go up and not being truthful about what's to happen!

lol , we wanted the market to go down to have a chance buying more.

But unfortunately in reality that's not how markets work because we have buyers and sellers coexisting and markets will soar and sometimes markets will dip, they must be a balance.

and indication of market flow , there is no market that healthy if the movement is heading one way either going up or going down.

But crypto users who have been in the market will tell you when to short and when to long.

joke? crypto users will tell you when to short or long? who are those users? mind telling me so i can ask for some points?

[Botnake]

I tried setting up some type of API where if Elon tweeted about Doge, then it would automatically buy however you would be surprised how many people out there are already doing that. And honestly most of the time ,the entire move completely retraces. It seems its better to just short the rip, put in a tight stop and short it back down to where it started to rally from.

This is a guess common. Basically if too many people do the same thing then obviously it won't be profitable anymore and this is pretty much what happened. I am surprised that his tweets have so much power to be able to make the market cap change in near seconds by his tweets.

I am totally not surprised that there are hundreds and thousands of bots and alts doing this,,, very old and recognized strategy used to be McAfee tweets;)

But yes it would be so good to just short alts every time he Tweets (since they will be already too late to buy).

But DOGES and when he Tweets sell though is the only way most people can do unless somebody knows about DOGE futures?

Will he tweet to sell?

I guess Elon is more on accumulating and holding, that's why people invest as he is so optimistic with his prediction.
He doesn't need to be detailed with his tweet, people would already speculate and knows what it means.

In short, they just follow Elon blindly, so they can't blame anyone of DOGE will dump in the future.

[777Jolami]

It's hard to predict which out of thousands of alts will go up, but what you can predict is that once a coin went up, it's bound to go down. Like, take the best performing coin right now, Dogecoin, there's absolutely no justification for its price, it has no adoption or promising features, it's pure hype. It's bound to go down, so if you carefully short it with small leverage, you're going to make profit. Obviously, the danger is in the known trading wisdom - "the market can stay irrational longer than you can remain solvent", but still the fact that pumped coins will go down is something that you can rely on.

Honestly, I don't understand why people flock to buy the Dogecoin, a meme coin with no trends, no utility.  As it has been exaggerated in the community, including celebrities.  They make money and they understand, but others don't.  It is this that has caused great damage to the market, that even those people will be left out, inexcusable!

Thousands of alts, but it includes tons of shitcoins.  It will destroy you if many people do not realize.  Or they are just puppets, blind.

[wxa7115]

well, if that is the case, you should not hesitate in installing short leverage, but in fact the market will always be 100% unpredictable, for that you need planning and the worst predictions that will happen if your predictions fail.
all coins indeed will not always go up and also not always go down, but only applies to good coins, and not shitcoin,fomo,hype at that time.

Exactly, right now it is easy to talk about shorting the market, but when altcoins were in their altcoin season who in his right mind would dare to short the altcoin market? That would have been a terrible mistake and if to all of that we add that those that like to short the market like to use leverage as well then things can take a turn for the worse relatively quickly.

So it is better to just go long and avoid using leverage and if you do not think the market is going to recover and it will keep going down then you might as well just get fiat and wait until the drop is over.

[RbiggerG]

well, if that is the case, you should not hesitate in installing short leverage, but in fact the market will always be 100% unpredictable, for that you need planning and the worst predictions that will happen if your predictions fail.
all coins indeed will not always go up and also not always go down, but only applies to good coins, and not shitcoin,fomo,hype at that time.

Exactly, right now it is easy to talk about shorting the market, but when altcoins were in their altcoin season who in his right mind would dare to short the altcoin market? That would have been a terrible mistake and if to all of that we add that those that like to short the market like to use leverage as well then things can take a turn for the worse relatively quickly.

So it is better to just go long and avoid using leverage and if you do not think the market is going to recover and it will keep going down then you might as well just get fiat and wait until the drop is over.

What I wonder about shorting is where do you do it in the best way? I know you can short a few coins on simplefx, but what are the best places and exchanges to go short on alt that are not top 5 on Coinmarketcap? Is there an option that offers a wide range of short positions on many alts?

[onecall123]

Fantastic guidance, I should say perhaps the most sensible and helpful posts on here. Everybody seems like too much FOMO over the hype news and present scenario but I have doubt too late to short. I'm still learning but you just gave wonderful advice. I would like diversify coins, but the individuals has distinctive feeling of instability and maybe fear. So, let them forward their footstep where they like.

[mirakal]

Dogecoin coin is still doing well and there some people who are taking over from where Elon left off in terms of pumping dogecoin! The capitalization of doge is huge right now and the positive sentiment is still surrounding the dogecoin.  For how long this going to last,  nobody knows.  But I will sure ride this positive sentiments until it's no longer there!

It's still dependent on the performance of bitcoin, there's no hype if bitcoin is down, and if bitcoin will go bearish and will go down $30k, I doubt DOGE will still stay at the current price. While some people are still expecting DOGE to reach $1, we should also look at the other side, the bad side which DOGE could go down again at $0.1. I'm already hearing a lot of bad news about DOGE, it's overhyped and therefore it will correct soon.

[RbiggerG]

Dogecoin coin is still doing well and there some people who are taking over from where Elon left off in terms of pumping dogecoin! The capitalization of doge is huge right now and the positive sentiment is still surrounding the dogecoin.  For how long this going to last,  nobody knows.  But I will sure ride this positive sentiments until it's no longer there!

It's still dependent on the performance of bitcoin, there's no hype if bitcoin is down, and if bitcoin will go bearish and will go down $30k, I doubt DOGE will still stay at the current price. While some people are still expecting DOGE to reach $1, we should also look at the other side, the bad side which DOGE could go down again at $0.1. I'm already hearing a lot of bad news about DOGE, it's overhyped and therefore it will correct soon.

No way will alts stay strong or at least 99% won't unless a miracle happens. The bad news for Dogecoin exist mainly because it is a damn meme coin and it is also inflationary forever. However, being positively critical even with Dogecoin is also important. Just saying it is bullshit is not the right way to go about it. If Dogecoin gets an army of developers behind it and a lot of funding, I don't know what makes it necessary worse than other coins except for the fact that you can't take it for real somehow.