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Record short positions on Bitcoin.

Discussion in 'CryptoCurrency' started by bartosimpsonio, Aug 1, 2017.

  1. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    BFXData reports record short sellers on Bitcoin : https://www.bfxdata.com/positions/btcusd

    All betting that BCC will split value with BTC.

    Since every BTC = one free BCC effective noon tomorrow (12:20 to be precise), record numbers of betters (investors?) are shorting BTC.

    One extreme scenario is BTC drops 50% since now you got 1:1 BTC:BCC.

    Other extreme scenario is everybody dumps BCC to buy BTC as quickly as possible and BTC retains value or makes gains. Since shorts will have to cover, BTC might jump to very high levels (what speculators call a short squeeze).

    Careful in the next few days, potential losses ahead. Obviously there's room to make $ as well, but it's probably 100X as risky as outright betting.
     
  2. AlumniAce

    AlumniAce Regular Member

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    I'm hoping for the extreme dump, some people say that BTC will reach 4000 and then fall down because everyone will be selling to buy back altcoins and BCH will be dumped since there will be too much with too little demand.
     
  3. zepita

    zepita Registered Member

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    I'm holding btc now on bittrex waiting to get free bcc, however, if btc price gets to 4k I'll surely dump them for usdt or eth