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Trade on Bitcoin
06 Jun 2021 (340 views)

I took a short position on Bitcoin Futures on 5 June and held it over the weekend. The contract is for 5 bitcoins. I shorted at the price of $36,900.

The futures platform that I used was closed during the weekend.

I monitored the price of Bitcoin using another platform. 

The price increased by $1,000 to $37,900 at one stage, giving me a loss of $5,000.

Later, the price dropped by $3,000 (7.5%) to $34,900 over a few minutes.

My short position showed a gain of $10,000.

The trading during the weekend was at a low volume, and the price is highly volatile. 

When most platforms open on Monday, the volume will increase and the price will reflect the main market. 

I hope that the price of Bitcoin fall further to give me a bigger gain on my short position.

I am prepared to take a big risk as I am convinced that Bitcoin has no real value. It current price is highly inflated. The bubble will burst 

However, other speculators believe that the price will shoot up further 

This trade is highly risky. I  trade with money that I can afford to lose. However I hope to make a big gain. 

 


Trade on Bitcoin
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I took a short position on Bitcoin Futures on 5 June and held it over the weekend. The contract is for 5 bitcoins. I shorted at the price of $36,900.

The futures platform that I used was closed during the weekend.

I monitored the price of Bitcoin using another platform. 

The price increased by $1,000 to $37,900 at one stage, giving me a loss of $5,000.

Later, the price dropped by $3,000 (7.5%) to $34,900 over a few minutes.

My short position showed a gain of $10,000.

The trading during the weekend was at a low volume, and the price is highly volatile. 

When most platforms open on Monday, the volume will increase and the price will reflect the main market. 

I hope that the price of Bitcoin fall further to give me a bigger gain on my short position.

I am prepared to take a big risk as I am convinced that Bitcoin has no real value. It current price is highly inflated. The bubble will burst 

However, other speculators believe that the price will shoot up further 

This trade is highly risky. I  trade with money that I can afford to lose. However I hope to make a big gain.