BTC long, but only as a hedge investment
Updated
The market is unstable, and that can be attributed to the uncertainty surrunding BTC.
So, in order to profit no matter what, I'll be shorting some coins that show the most potential for a loud downfall and going long on BTC, which doesn't really look like it will grow further in the short term BUT has limited potential for a downfall.
So if the bulls start running, my investment will be hedged and if the bears prevail I will gain a lot of money.
3x, permanent futures, 15% of the capital I'd be comfortable with investing in a single currency.
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This time the algorithm has nothing to do with my decision, except for showing a significant resistance in BTC.
I'll update as I begin the long operation.
If you found this information useful, make sure to comment and I'll post more!
So, in order to profit no matter what, I'll be shorting some coins that show the most potential for a loud downfall and going long on BTC, which doesn't really look like it will grow further in the short term BUT has limited potential for a downfall.
So if the bulls start running, my investment will be hedged and if the bears prevail I will gain a lot of money.
3x, permanent futures, 15% of the capital I'd be comfortable with investing in a single currency.
----
This time the algorithm has nothing to do with my decision, except for showing a significant resistance in BTC.
I'll update as I begin the long operation.
If you found this information useful, make sure to comment and I'll post more!
Trade active
Long started at 52047; will update in few hours.Note
The trade is still ongoing. Lost 2% of my total capital with this long, and gained 15% with the other shorts.I'll be keeping the trade going for a good while longer.
Trade closed manually
Trade closed at 52500 a couple of hours ago, as the need for a hedge subsided.Now the price is falling: if it gets below 51000, prepare for a bearish ride.
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