Education

Trader who sold Bitcoin top has covered his short

A Bloomberg piece that might give some encouragement to those looking for BTC to recover. 

Well, maybe, the guy who sold the top and now covered is not all that encouraging:

  • “I don’t want to try to ride this thing to zero”

Mark Dow shorted bitcoin:

  • “They just saw it was going up and wanted a piece of it. People’s imaginations can run further when they’re not tethered to facts, when they don’t understand the issue
  • It allowed the bubble to be much larger and much more violent. I saw the psychological hallmarks of it and there came a point where it looked like the fever was breaking.”

Has taken profit.

I’ve tagged this post under ‘Education’. Read that quote I’ve included and internalise it. 

Meanwhile, a look at the BTC itself over recent days:

ForexLive

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