Why is no one talking about shorting alts?

[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.

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[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.