Shorting Bitcoin Now is “Pure Gambling”

Shorting Bitcoin has always been a gamble but now it is plain foolish:

Bears Beware: Shorting Bitcoin Now is “Pure Gambling” Claims Top Trader

While speaking about the cryptocurrency’s current technical strength, one top trader explained that the risk of shorting Bitcoin’s trading range is “pure gambling” and risky unless it is being done for the purpose of hedging other positions.

“Directional shorts in this range are just pure gambling. I understand hedging especially if you’re up huge on illiquid DeFi stuff but the risk of being short is still too high unless certain market factors change. BTC still in range 12.2k-11.2k.”

Full article here:

Master Asked on August 14, 2020 in Bitcoin.
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