Shorting the Crypto market
- Thread starter DallasCowboysFan
- Start date
Until there are signs in PA telling the trend is reversing, the trend is still there, get in the trend in any way you prefer, it is never too late. As Al Brooks says, when it is a buy the close trend (at least on the daily chart to my eyes), just buy anything, buy the close of a bull bar, buy any pull back, buy the close of a big bear bar. If not sure, buy small and add on when a bigger pull back ends with signs of up trend resuming.i never fought the trend, just missed it
"But boys who create it out of thin air certainly can, since they are the ones creating it out of nothing."
In the crypto world, this is called a rug pull. Unless someone has evidence that these "boys" are doing this, with proofs on the blockchain transactions (USDT is a crypto stable coin), this can only be treated as heresay.
And of course, if someone cares to provide evidence this is true. For me, now, I doubt this is true. Reason, for one, the total market cap of all cryptos together is only about TSLA + AMZN (slightly less than 3T). If USDT is creating money out of thin air, they should make the crypto market cap over 10T, 100T, why this is not happening?
(1) they are not doing this.
(2) they are doing this in a very very controlled manner and speed, a speed so under control that so many years has past, in the crypto world, a world of so much hype, they just barely flipped MSFT and AAPL.
Either case above, I am comfortable putting my money in cryto and my dry powder in USDT/C/DAI etc.
In the crypto world, this is called a rug pull. Unless someone has evidence that these "boys" are doing this, with proofs on the blockchain transactions (USDT is a crypto stable coin), this can only be treated as heresay.
And of course, if someone cares to provide evidence this is true. For me, now, I doubt this is true. Reason, for one, the total market cap of all cryptos together is only about TSLA + AMZN (slightly less than 3T). If USDT is creating money out of thin air, they should make the crypto market cap over 10T, 100T, why this is not happening?
(1) they are not doing this.
(2) they are doing this in a very very controlled manner and speed, a speed so under control that so many years has past, in the crypto world, a world of so much hype, they just barely flipped MSFT and AAPL.
Either case above, I am comfortable putting my money in cryto and my dry powder in USDT/C/DAI etc.
plenty if evidence there that USDT is backed by air. BitFinex lied so many times and it is all very well documented.
tethers pushed crypto valuation over 2 trillion so you proved your own argument. We would never see such valuations without these fake money.
How do you know, for sure? And, what does it matter anyway? Relying on ultimately being proved right often doesn't work out in the markets. And especially not in the crazy world of crypto.
I've recently come to the conclusion that there is nothing rational whatsoever about this market, so normal logic doesn't apply. It's being driven by millions of "kids".
Back in the late 90s, I thought dotcom was a bit mad, but this is a whole different level of insanity.
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And remember what happened to dot com. It's inevitable that something similar will happen in crypto as well, the challenge is just that the market can remain irrational longer than we can remain solvent, as Keynes allegedly said.
It will matter that 2 trillion marker cap is being achieved by fake money and wash trading for the most part, but for now long is the only game in town.
Not easy when a drop of 20% is just normal volatility and a drop of 50% can be just a pullback.
