Biggest Crypto Mistake: Shorting Bitcoin

[rohasnagpal]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

[pooya87]

More than anything it's all about timing. Even though I would never short bitcoin but I wouldn't call it wrong per se. The problem is when people short bitcoin after the drop is over thinking (better say hoping) the price would go lower some more. This is when they get rekt.

For most people the best bet is to invest in bitcoin for long term rather than trying to play the market and make short term profit.

[Oshosondy]

Bitcoin has been the most less volatile coin to trade and more predictable. I have been shorting it around $70000 to $71000 and I am making money from it.

But the disadvantage is that the profit is small. I use small amount and each $1000 bitcoin moves, I can only gain like $10. Which means I use the money that is 100 times lesser than bitcoin price.

There is more you need to learn about trading. Shorting can be more dangerous but there are times you should use it in overbought market and when the trend is bearish or when bitcoin is moving with certain price that you are certain about. Now bitcoin is moving within certain prices.

[Hatchy]

But here's the golden rule: Never bet against Bitcoin.

100% true mate. A lot of crypto investors makes this mistake of thinking that they can make profit from investing in shitcoins, the same way they had invested in Bitcoin. But unfortunately they end up losing so much capital in pumps and dumps scheme. Speaking from experience, I had lost some reasonable amount of funds from investing in shit coins some years back. I guess it was my first time to experience the FOMO in reality. I saw some friends who made good profits and didn't want to miss. So I rushed and used my money to buy the coin and unfortunately it dumped.

Bitcoin is far more profitable on the long term. We shouldn't even compare it with other cryptocurrency as they aren't even in the same level. I've seen my investments move from hundreds to thousands in few months, that's how good Bitcoin is.

[livingfree]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

You'll never get rekt if you know what you are up to. You plan your purchase and as well as your selling. It's not all about how the peak you're going to sell it later on.

But I agree about pooya87 that it's about the timing. Here is a situation, there were people that have bought at the right price long time ago but then sold eventually.

While there's a new buyer that have bought considering higher than that first guy but then sold later than them with a higher price.

Anyway, if you're planning to exit then plan it. But then, no matter how early you bought, how sooner you sell, it won't change that fact that Bitcoin is here to stay.

[davis196]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Do you really understand how the "bears" are making their profits? They are selling at high prices, buying at lower prices and keeping the profits. Selling BTC at 70K USD and buying back BTC at 60K USD doesn't mean that they are leaving the Bitcoin market or betting against Bitcoin. Shorting is basically the same process as selling high and buying low(the opposite of what the "bulls" are going-buying low and selling high). There's nothing wrong with shorting Bitcoin. The BTC price will always have it's drops and bear markets here and there. The bears aren't doing anything illegal or morally wrong. This is an open market and the traders on that market can choose whatever strategy they want to make a profit.

[Sim_card]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Do you really understand how the "bears" are making their profits? They are selling at high prices, buying at lower prices and keeping the profits. Selling BTC at 70K USD and buying back BTC at 60K USD doesn't mean that they are leaving the Bitcoin market or betting against Bitcoin. Shorting is basically the same process as selling high and buying low(the opposite of what the "bulls" are going-buying low and selling high). There's nothing wrong with shorting Bitcoin. The BTC price will always have it's drops and bear markets here and there. The bears aren't doing anything illegal or morally wrong. This is an open market and the traders on that market can choose whatever strategy they want to make a profit.

It is cool when professional traders are trading and making profit from shorts no matter how little it is. What I am concerned is the newbies that just got into the crypto space, who does not have the knowledge about the market jump into trading and loss all their capital. Such people should stay away from trading, because it is easy to be a long-term hodler than short-term. Bitcoin market is risky and needs solid trading skills to survive in the market.

[Nheer]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

The most important thing is getting the timing right and believing in what works best for you. Some people believe in shorting and it have been working for them and were able to claim some profits, i believe it’s about knowing what works best for you and sticking to it but i think long term can be more profitable.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

But here's the golden rule: Never bet against Bitcoin.

You bet against it your loss.

[Obim34]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

The most important thing is getting the timing right and believing in what works best for you. Some people believe in shorting and it have been working for them and were able to claim some profits, i believe it’s about knowing what works best for you and sticking to it but i think long term can be more profitable.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

But here's the golden rule: Never bet against Bitcoin.

You bet against it your loss.

Every investor is entitled to his own approach to investing in Bitcoin, a few will prefer trading while some will aswell try as much to invest in for the long run but the fun fact is that all amounts to making profits, but when we try to get deeper we can mostly figure out that it is considerably the best to invest for the long run. A lot of investors has done this and it continuously keep working , those who would find it not profitable are those who are yet to understand the very two seasons of the market which is the bull and bear, this said investors panic once it gets to the bear season and you will see them sell off but a well detailed investors who understand the basics will understand that it is another time to invest even more rather than sell.

[kryptqnick]

I've had some success with altcoins in 2017, but I've also had some failures later, when the altcoin bubble burst and most altcoins never returned to their former price level. So nowadays, I agree that Bitcoin is the safest bet among cryptos, and it seems likely to pay off in the long run. It's more of a question of how much it will pay off and how long one needs to wait for that to happen. There are also other options like gold or, in some cases, even relatively stable fiat like the USD, which can widely outperform local fiat currencies.

[Plaguedeath]

Biggest crypto mistakes:
1. Buy rug pull coins.
2. Buy high, sell low.
3. Hand your coins to scam or liquidated projects.

Shorting Bitcoin is when you make money if Bitcoin price down, imagine if you shorting when Bitcoin was $71K to $69K and recently when Bitcoin was $69K to $66K, you're already in profit!

In the long run, people who were shorting Bitcoin can just to hold Bitcoin for long term, why should someone choose either shorting or holding if they can do both?

[el kaka22]

The reality is that we are talking about something that doesn't really take that much time and effort at all. The reality is that we should consider shorting bitcoin as a valid option on bear periods if you want to, but not right now at all. I believe that after peaking in 2025, you could start considering that as an option, not saying that it would be a great option but it would definitely be an option.

Because then we would be going into the bear market and during that period it is not a mistake. But if you decide to make it work right now, then you are going to end up with a lot of trouble and I would say that we are going to end up with some issues if you are not careful at all. Best would be just focusing on what you can do.

[Abu-Naim]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Betting against Bitcoin will never end well, we have hear stories of people who criticizes Bitcoin in the past and end up regretting not investing on it earlier because of how well it has turned and how good and profitable it will be in the future.
I am always looking for ways to bag more Bitcoin in my portfolio before it become late for me because Bitcoin will become globally accepted with time, and its value will worth more than our expectations.

Altcoins can actually gives quick profit, but Bitcoin is less volatile and less risky compare to shitcoins, and it is reliable and the best crypto to invest your savings in.

[Faisal2202]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

You are right currently the market is bullish even if sometimes it gives you down trends but they are temporary atleast till 2025 they are temporary. As I think after 2025, the bear run will start and we might see a long downtrend which we all want to avoid. So yeah going against the current of the river is a bad choice wait for the right time and once the current changes go downstream with it. Then you will face lesser problems but you don't want to go where it will take you I hope you are getting my point.

Overall doing future trading in BTC, I don't support it, as I spend good time in doing future trading and did not made any profit, it was so stressful and keep you under pressure which I did not bear so I found spot trading and holding more peaceful way to make money although they require more time and more capital but still worth the efforts.

[0t3p0t]

More than anything it's all about timing. Even though I would never short bitcoin but I wouldn't call it wrong per se. The problem is when people short bitcoin after the drop is over thinking (better say hoping) the price would go lower some more. This is when they get rekt.

For most people the best bet is to invest in bitcoin for long term rather than trying to play the market and make short term profit.

Well yeah I agree you have a good point especially in long term investment on Bitcoin. But shorting Bitcoin does not matter or as you have said it's not wrong as long as you know the perfect entry and exit of your trades but if someone is just guessing indiscriminately without figuring out the trend or really has no idea about anything I think we can expect losing trades in that scenario.

[DeathAngel]

You can make money shorting Bitcoin but any kind of leverage trading is not a good idea to do regularly. By far tge most proven path of success when dealing with Bitcoin is just to HODL long term. Sure it’s boring but it’s effective, simple.

[Ndabagi01]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Bitcoin have shown some level of confidence in me that I won’t want to short it even when the market is on a correction mode. I will prefer to look at the future possibilities of it rather than banking on short term goals of it that I know will only last for a short period which you can’t even be certain the period (whether long or short) it will last. The biggest bet on bitcoin should be on the continuation movement of it in the uptrend and not the other way round.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

That’s just the fact bitcoin waits for no one. There were those who didn’t believe in it back then and it didn’t wait for them and when they came back it has gone up in price bit it doesn’t mean they are too late to hop on.

A lot of people that didn’t believe in bitcoin and came back lately into it are mostly the big whales investors and traders. They try to play smart with the market which is working out for them. Buying low and selling high for the investors. The traders now bank on trading, they do it by analysing the market on a short or long term depending on what the result of the analysis shows for them at the end of the analysis.

[coolcoinz]

More than anything it's all about timing. Even though I would never short bitcoin but I wouldn't call it wrong per se. The problem is when people short bitcoin after the drop is over thinking (better say hoping) the price would go lower some more. This is when they get rekt.

For most people the best bet is to invest in bitcoin for long term rather than trying to play the market and make short term profit.

I think that OP is trying to say never try to fight a coming tide, or a hurricane. Bitcoin is an appreciating asset. If you look in a yearly perspective it goes up 70% of the time, so you're playing a rigged game, trying to bet on a 30% chance that you'll get it right and make some money, when betting on the 70% is a no-brainer.

Yes, you can make money shorting bitcoin, but you're taking unnecessary risk. You will earn money longing it anyway, without risking much. People who lose money usually try to overthink it. They have a fast car, but they want to make it faster and it ends up being hard to control, more dangerous. They have a great wife, but they're still looking for a better woman, even though we all know that there are no perfect things in this world. By doing so they jeopardize their relationship and end up being alone.

Make a safe bet guys and be happy with what you have.

[SamReomo]

But here's the golden rule: Never bet against Bitcoin.

Op I would like to tell you that if someone is master of shorting then Bitcoin isn't a bad asset for the purpose. I personally know some traders who only short crypto assets including Bitcoin and they have made a lot of profits by doing that.

I know I'm also supporter of those who buy and hold Bitcoin but it would be unjust to say that the ones who short it aren't making money out of that shorting process. Surely the ones who short it with leverage are the ones who are at huge risk of losing their capital but as long as one doesn't use leverage then short Bitcoin is safe if that person knows what he/she is doing, and when to open a short position.

[BlackBoss_]

Sure, you might snag a few wins, but in the long run, you WILL get rekt.

Bitcoin is an unstoppable train. If you don't believe in its power, don't hop on.

But here's the golden rule: Never bet against Bitcoin.

Many people will disagree with you because in this market, there are two sides of movements, up and down. There are different times when market will have liquidations on either up or down way, with Short squeeze or Long squeeze respectively.

It's not rare to see both Long and Short squeezes within couple of minutes in this volatile market.

The bottom line is not bet against Bitcoin, I see you meant don't short against Bitcoin, but "Don't use leverage in Bitcoin market, for either Long or Short positions".

Liquidation data https://www.coinglass.com/LiquidationData