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Roller coaster ride of bitcoin
23 May 2021 (502 views)

I hold a short position in 20 micro bitcoin (equivalent to 2 bitcoin) Future contract at a cost of US $37,600. At the closing price on 21 May 2021 of $35,100, my short position showed a profit of $5,000.

During the weekend, the price of bitcoin went on a roller coaster. It increased to a high of $38,500 (giving me a loss of $1,800) to a low of $34,300 (giving me a gain of $6,600).

The trading platform was down during the weekend, so I am not able to close my position. Fortunately, the price had moved in my favor.

I will continue to hold the short position, but I stand ready to close my position if the bitcoin price moves up (and when the platform is operational).

Tan Kin Lian


Roller coaster ride of bitcoin
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I hold a short position in 20 micro bitcoin (equivalent to 2 bitcoin) Future contract at a cost of US $37,600. At the closing price on 21 May 2021 of $35,100, my short position showed a profit of $5,000.

During the weekend, the price of bitcoin went on a roller coaster. It increased to a high of $38,500 (giving me a loss of $1,800) to a low of $34,300 (giving me a gain of $6,600).

The trading platform was down during the weekend, so I am not able to close my position. Fortunately, the price had moved in my favor.

I will continue to hold the short position, but I stand ready to close my position if the bitcoin price moves up (and when the platform is operational).

Tan Kin Lian