Those who opened short positions a week ago have already reaped the rewards.
In fact, the big logic is very simple, and you can understand it as soon as you think about it.
Project parties come to the cryptocurrency circle to make money. In the past, the market would pull up the price during a bull market. Now, project parties probably won’t have such expectations. So shipping is the inevitable choice.
Then the target is those listed on Binance Alpha and contracts. Most projects are at this stage, and they are basically at the end. On the one hand, you can short, and on the other hand, you don’t have to worry about sudden good news and the price of the currency exploding.
Then it’s time to short. One week is a good time, because BTC can’t go up to a new high, and it’s very hesitant.
At this time, even if BTC doesn’t fall, the project parties will rush to ship first. With this little liquidity, if retail investors run away first, they can’t ship.
Add to that the high market value, it’s very safe.
The one with the highest return is LA, which fell by 40%. But the most depressed one is siren, which plummeted only after the short position was closed. Siren was first mentioned by our teacher @Hiki17Zz in the group. He found out that the project was selling the goods, and he made a lot of money.
But overall, I bought a small position to earn enough money to enroll my son in summer classes. My main focus is still on the chain.