Or..... is there something more nefarious going on? We know, or at least I know, that the demand for BTC is HUGE worldwide. Do the exchanges have enough BTC to fill all of the orders or are they selling short to fill the buy orders hoping to cover later? I don't know. All I know is that if I was short a thousand dollars ago I would have covered so fast we would not even be talking about it.
I really am puzzled at to why the Bitcoin price continues to scream NORTH and yet there is no indication that anybody on the short side wants to cover. Are you that cock sure of your position that you will continue to take an ungodly amount of pain? I don't think so. I've been there and done that. Cut your loss and run is the order of the day.
But that does not appear to be what is happening. Bitcoin goes up, the open short positions go up. Bitcoin goes up, the open short positions go up. Rinse and repeat. This has been going on for quite some time.
My answer? I have removed ALL but about 10% of my long BTC position from the Exchange. If the shit is going to his the fan, I'll be dam if I'm going to stand in front of it.
I am STILL long, will remain long, and ALL but 10% of my Satoshi are safely tucked away under MY control.
If anybody has a good explanation of this situation I would love to hear it.
My last short was at 8410, I get stopped out at 8540 (btw: 90 minutes later..). At this time I was pissed that it hit me but now I'm really happy that it happened.
Will never short again - learned my lesson.
And especially in a bull market it makes totally no sense.
I never experienced this crazy shit. Had I been on the exchange back then I probably would have been saying the same thing. WTF is this????? lol
I love making money, but even to me this is crazy stupid.
So ..... you get it. The top money gets it. There are two escapes when they shamefully liquidate the paper gold to the global masses and retain the physical product... (what fuckery) . I feel like there is something much bigger going on here ... Bittrex and Binance catering to America. There's an argument to be made for any indebted government to shamefully dump their national debt into crypto for the world to gobble up, before they dump it at the top and leave the citizens of the world to fight over whos going to pay the most for shit. I dunno... maybe bitcoin is at that same confluence where the currents and flows are all scattered in the turbulence of the confluence of bonds, metals, equities, crypto, global reserve currency, etc etc etc ....
We have been pushed over the cliff. This shit is getting REAL and it's getting REAL, REAL fast!!!