Bitcoin bouncing off 24 hour lows below 10,000, however People aren't buying bitcoin because they believe in the revolution....they are buying just because they think they can make money.... Most people who bitcoin right now are sitting on losses ....so this should be interesting to see how much higher it can go before most of these new buyers start selling and get out.....and to all those big buyers of bitcoins you know the ones that own millions worth...if they give up on bitcoin that could send bitcoin straight to double digits....
That's cool. We're never going to meet eye-to-eye because you don't see bitcoin as an investment class that is a store of value and can function as a currency. I should have compared it to another investment asset that can function as a currency which is gold but point is beaten to death. Good trading to you.
You'd need so much money to hold a BTC short on those exchanges that it simply isn't worth the risk for a long pop. And it simply isn't worth it for holding futures long on a sharp dive. Crypto futures will need a few more years to be fleshed out before it is a knowable future to make money with, outside of shooting from the hip. That is my assessment. As for the peeps making points about paper stock certificates? They are proof of ownership. If the Interweb goes down for a few days you have no out with cryptos. With paper certificates you could always go to the company comptroller (or whomever) and cash out. Proof of ownership of a company does not vanish in a puff of digital smoke. It would take, like, fire.
A scenario where the whole internet would go down even for a few days is one where we'd have other problems to deal with besides money or investments.
Guys, there are very few "paper certificates" left in the system. It is "book entry" for the most part.
Bounce coming.... everyone feels like a hero for holding...of course if you held and didn't sell. But we all know cryptocurrency is nothing but air....fake virtual non existent fairytale coins.....
HuhUUuhUUUhhhuuuHH?? What diff does it make how much the margin is? Aparrently the margin is 40k at IB. Maybe they adjust it now that BTC has crashed and burned So what, your risk is the same if the margin is 1 cent or 1million. dont you get that?
The risk varies each day with the underlying on this piece of shit instrument, unlike normal stuff such as CL or gold. Thusly, each day the risk on BTC margin will vary based upon his account and position size and what the heck the BRR will be at London close. The risk on stuff like CL and GC takes time to adjust. It is not a daily fluctuation. I guess you did not get the memo, friendo. *chuckles* Anyhoo, not ragging on you Soes, just piping up on the reality of swing trading this elephant in the room. Friendo. (If you have never noticed, I try to make my points with funny media bits.)