I got out of my BTCUSD long trade from earlier in the week. I went long at a few steps with Bitcoin, buying in at $6,250 and then again at $6,500 while incorporating options via my option account. The market just crossed the $6,800 level and I wanted to take profits. I wrote up on this subject a few days ago:
seekingalpha.com/art...na-push-price-higher
and posted it here on Seeking Alpha, with regards to a continued pressure on Bitcoin from the Argentinian currency crisis.
BTCUSD
My expectation was $6,750.00 so before I went to bed last night I saw where the cryptocurrency was, I decided to sleep peacefully and pulled the plug (just now writing this up).
My options I placed through the week via my Deribit account:
www.deribit.com/reg-596.9985?q=home
expired about 30 hours ago, around 06:00 New York time. I bought in around $6,250.00 initially and added at $6,500.00 placing delta-neutral put options on as the market went higher.
Since it is the weekend, I am going to hold off on any new trades but will keep a vigilant eye. I usually put my trades on around mid-week when the options near expiration. I will do the same going in to this week.
I believe there will be continued pressure upwards with interest rates worldwide, which will pressure currencies downward against the USD. This is inflationary and people around the world will hedge their respective currencies with Bitcoin as a store of value.
I am keeping an eye on various currencies looking at the Argentinian currency crisis as the blueprint of things to come.
I will continue to update my readers as my trades progress.
seekingalpha.com/art...na-push-price-higher
and posted it here on Seeking Alpha, with regards to a continued pressure on Bitcoin from the Argentinian currency crisis.
BTCUSD
My expectation was $6,750.00 so before I went to bed last night I saw where the cryptocurrency was, I decided to sleep peacefully and pulled the plug (just now writing this up). My options I placed through the week via my Deribit account:
www.deribit.com/reg-596.9985?q=home
expired about 30 hours ago, around 06:00 New York time. I bought in around $6,250.00 initially and added at $6,500.00 placing delta-neutral put options on as the market went higher.
Since it is the weekend, I am going to hold off on any new trades but will keep a vigilant eye. I usually put my trades on around mid-week when the options near expiration. I will do the same going in to this week.
I believe there will be continued pressure upwards with interest rates worldwide, which will pressure currencies downward against the USD. This is inflationary and people around the world will hedge their respective currencies with Bitcoin as a store of value.
I am keeping an eye on various currencies looking at the Argentinian currency crisis as the blueprint of things to come.
I will continue to update my readers as my trades progress.
