It may be a #Splinterlands day, but Bitcoin is definitely still in the news.
Buying on leverage (or shorting, for that matter) is just flat-out crazy when you're talking about an asset that can move 10-20% in a day on a fairly regular basis. Another example of traders getting rekt...
Analysts point to overleveraged traders after Bitcoin flash crashes to $43k
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Leverage trading, from what little I know, is a very dangerous game. If I go to the casino I don't borrow money to gamble, simple as that. But that is how Sarge rolls. To each their own I guess.
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I think the same way
I guess the big boys make money from that, but not for me either
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It is one thing to gamble with your money, another to go to a loan shark and use his.
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It definitely is. The larger the risk, the larger the returns.
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DCA is the best way to invest in Bitcoin for long-term gains. Trading is so risky when you deal which such volatile assets aka CRYPTO.
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Volatility is a trader's best friend, as long as on the right side of the trade.
Shorting is a money make, or you can lose your ass.
That is not for the inexperienced and those with weak constitutions.
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I make sure to stay away from that becuse I don't even understand what it fully means lol
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Shorting is betting that prices go down. Basically you borrow BTC and promise to pay back the lender later. If BTC goes down, you buy back BTC and give it back to the original guy so you make money. However shorting has unlimited risk because if BTC rises 100x, you basically lost 100x your initial investment.
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Good. Point of view very explicit. I agree
AH okay, it makes sense
Yea, not for me indeed
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It's definitely a day traders best friend but I don't really like day trades and prefer swing trading over that. I don't think I want to watch the charts 24/7
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No and most day traders end up losing their shirts anyway. It is a rough way to go about things.
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Yea I don't think I would ever want to deal with leverage in crypto. It's a harsh reality that crypto is extremely volatile.
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