My concern is this; either BTC rejoins MSTR or the other way around. I was trying to short MSTR because I believe MSTR is more likely to realign with BTC.
Shorting the Crypto market
- Thread starter DallasCowboysFan
- Start date
My concern is this; either BTC rejoins MSTR or the other way around. I was trying to short MSTR because I believe MSTR is more likely to realign with BTC.
I think you I get your point on the realignment of the btc and mstr price charts...
I'm not very good with charts but I do know the basic ones and their meaning, RSI, 200 DMA, trend lines support and resistance
The stock market futures are pointing to a negative open and it would be preferable if the markets are down tomorrow as it would be more clear that MSTR does not follow the Nasdaq but rather the btc price
We shall see soon enough
Why?
Me and my friends are looking to buy/increase our exposure to crypto, but I'll wait for lower prices if you know something I don't.
Why shorting it
why shorting it ? Would be very curious to know your thoughts. Tethers are back to minting billions every other day. You can not fight fake money printing machine. One day it might be stopped, but until then long is the only way.
why shorting it ? Would be very curious to know your thoughts. Tethers are back to minting billions every other day. You can not fight fake money printing machine. One day it might be stopped, but until then long is the only way.
Tethers are fake money that are treated in crypto world as if it is USD. They were created around 2014, and for years lied that every tether they release into circulation is represented by 1 USD in their bank account. Once this fraud was exposed, they new lie is that they are backed by some commercial papers, and reality they only have a 3% of cash to represent 70+ billions they printed.
This is where it gets interesting, with 70 billions they would be within top 10 commercial paper holders in the world, however not a single commercial paper desk (and it is small group where everyone know each other) have ever seen them trading a single commercial paper.
And this fake shit represents 70% of crypto daily volume.
Essentially they behave like "Crypto Fed" and just print fake money to push Cryptos ever higher. most were printed over last year pushing crypto to ridiculous levels. They back to minting a billion every few days again.
Here are just few articles, there are tons of others:
https://www.bloomberg.com/news/feat...-the-69-billion-backing-the-stablecoin-tether
https://hindenburgresearch.com/tether/
Now ask yourself, why would anyone short such market, where fake money keep pushing market cap ever higher??????????
Where it gets sad for me personally, is that knowing the above, I thought they would be shut down any day, and this would absolutely crash Crypto market, and this is what kept me from inventing into it. Oh well.
They recently had to pay measly 41 million for lies around 2016, imagine how empowered they are now.
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Got to admit these charts are hard to understand... modifying the date range and time interval give totally different flows.I think you I get your point on the realignment of the btc and mstr price charts...
I'm not very good with charts but I do know the basic ones and their meaning, RSI, 200 DMA, trend lines support and resistance
The stock market futures are pointing to a negative open and it would be preferable if the markets are down tomorrow as it would be more clear that MSTR does not follow the Nasdaq but rather the btc price
We shall see soon enough
There are some offshore brokers that will let you trade crypto CFDs. Could be an option and familiar to you perhaps.
CryptoAltum
Sponsor
Hello, @DallasCowboysFan.
As @sebking1986 correctly said, you can short Bitcoin and other cryptos with a crypto derivatives broker, such as yours truly, CryptoAltum.
Feel free to ask any questions or contact our 24/7 support team (support@cryptoaltum.com).
As @sebking1986 correctly said, you can short Bitcoin and other cryptos with a crypto derivatives broker, such as yours truly, CryptoAltum.
Feel free to ask any questions or contact our 24/7 support team (support@cryptoaltum.com).