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.

[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.