gandhibt
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July 04, 2013, 02:21:17 PM

Maybe short at 81 then... it's slowing down.

How about no?

Why not? I'm welcome to both sides of the story.

Do as you like, but shorting is way too dangerous for my taste.

A recovery to 90+ is very possible.

You are right. Shorting bitcoins is crazy shit, you can be a bear and sell waiting for cheaper coins, but shorting is something I'd never do with BTC.

You are also right on the possibility of bouncing back to 90+. But I wouldn't call it "a recovery", I would call it another "epic sucker rally". Or a bull trap.

Shorting essentially is just the opposite of buying. If you think the price will go down then short, if you think the price will go up then go long. In a bear market, shorting is usually safer than buying. Then again, I wouldn't recommend trading at all, unless you know how to trade well and safely.

I myself usually profit more from shorting than going long. People often get in the mentality where they're afraid to not hold BTC, let alone to short it, which is silly. No one should sleep holding bitcoin at this point, unless one has some credible certainty that the price will rise.

I'm shorting now.

It's not silly. In this world economical situation it's maybe better to trust more in BTC than in fiat. I'm trading to get more BTC, because I believe BTC will be more valuable than fiat in the future. The biggest trend is BULLISH.