BitcoinShort
Why Didn't Bitcoin Cross Over 38,000 USD for the 7th Time?
Updated
An Investigation by Redridge Capital's Degenerates
Bitcoin, the financial equivalent of a hyperactive toddler on a sugar rush, has been teasing us with its near-constant flirtation with the 38,000 USD mark, only to pull back at the last moment like your school janitor when he discovers the underage high school girl he was flirting with is actually an undercover cop the whole time.
For the seventh time, Bitcoin has failed to break through this psychological barrier, leaving traders and investors scratching their heads like a group of monkeys trying to solve a Rubik's Cube. Some analysts suggest that it's due to the influx of institutional investors, who, much like a group of overweight uncles at a family reunion, are too risk-averse to go all in on Bitcoin, while others blame it on the lack of retail enthusiasm, which has dwindled like a deflated bouncy castle. Anyway, the point is that you certainly dont know the reason and we wholeheartedly join you with the same stance.
But we at Redridge Capital, the financial equivalent of a group of frat boys at a strip club, aren't here to analyze and theorize.That´s why we are going to be buying in the money options with a good margin of safety. Actually, fuck that. What do you think this is? This is Redridge Capital.
We are longing December expiry deep out of the money puts like the monkeys we are. Meet us on the dirtblock for the service when we are forced to do not so, “run of the mill“ things to keep ourselves financially afloat. How deep out of the money you ask? AT LEAST 50 %.
As one wise poet from Brooklyn said,
“ I lost 30 mill' so I spent another 30
'Cause unlike Hammer 30 million can't hurt me“
Our bet is that someone is selling it for a reason at the 38,000 $ mark. If our thesis is true, there is more to come because nobody would be trying to hit a brick wall to be selling this much Bitcoin for reasons unknown unless the person is high on illegal substances.....which is possible, lets face it. It is an eventual possibility.
So, while the rest of you are playing it safe with your in-the-money calls, we'll be over here, risking our hard-earned money on some deep-out-of-the-money options, hoping for a miracle. Because that's what degenerates do.
We're the financial equivalent of a group of daredevils bungee jumping without a safety rope, the stock market's version of a group of adrenaline junkies skydiving naked. We're not afraid to take risks, to push the boundaries, to make decisions that would make even the most seasoned financial advisor cringe.
So, if you're looking for a safe and boring investment strategy, look elsewhere. But if you're up for a wild ride, a journey into the uncharted territories of financial risk and reward, then join us, the degenerates of Redridge Capital, as we dive headfirst into the abyss.
Bitcoin, the financial equivalent of a hyperactive toddler on a sugar rush, has been teasing us with its near-constant flirtation with the 38,000 USD mark, only to pull back at the last moment like your school janitor when he discovers the underage high school girl he was flirting with is actually an undercover cop the whole time.
For the seventh time, Bitcoin has failed to break through this psychological barrier, leaving traders and investors scratching their heads like a group of monkeys trying to solve a Rubik's Cube. Some analysts suggest that it's due to the influx of institutional investors, who, much like a group of overweight uncles at a family reunion, are too risk-averse to go all in on Bitcoin, while others blame it on the lack of retail enthusiasm, which has dwindled like a deflated bouncy castle. Anyway, the point is that you certainly dont know the reason and we wholeheartedly join you with the same stance.
But we at Redridge Capital, the financial equivalent of a group of frat boys at a strip club, aren't here to analyze and theorize.
We are longing December expiry deep out of the money puts like the monkeys we are. Meet us on the dirtblock for the service when we are forced to do not so, “run of the mill“ things to keep ourselves financially afloat. How deep out of the money you ask? AT LEAST 50 %.
As one wise poet from Brooklyn said,
“ I lost 30 mill' so I spent another 30
'Cause unlike Hammer 30 million can't hurt me“
Our bet is that someone is selling it for a reason at the 38,000 $ mark. If our thesis is true, there is more to come because nobody would be trying to hit a brick wall to be selling this much Bitcoin for reasons unknown unless the person is high on illegal substances.....which is possible, lets face it. It is an eventual possibility.
So, while the rest of you are playing it safe with your in-the-money calls, we'll be over here, risking our hard-earned money on some deep-out-of-the-money options, hoping for a miracle. Because that's what degenerates do.
We're the financial equivalent of a group of daredevils bungee jumping without a safety rope, the stock market's version of a group of adrenaline junkies skydiving naked. We're not afraid to take risks, to push the boundaries, to make decisions that would make even the most seasoned financial advisor cringe.
So, if you're looking for a safe and boring investment strategy, look elsewhere. But if you're up for a wild ride, a journey into the uncharted territories of financial risk and reward, then join us, the degenerates of Redridge Capital, as we dive headfirst into the abyss.
Order cancelled
BTC went through the high, closing the trades.
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