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by fxtentacle 1943 days ago
Here's my personal Bitcoin prediction for 2021:

1. Some hedge fund will find a way to short Bitcoins.

2. Someone will inject a lot of illegal sh*t into the Blockchain. People already post images, e.g. https://cryptograffiti.info/

3. Authorities have to intervene, the price goes down, the hedge fund gets rich.

4. Lots of whining from people who didn't understand how Bitcoin works. Shoulder shrugs from those "in the know" who converted to regular money shortly before the fall.

2 comments

1. Lots of places to do this already exist

2. This has already occurred

3. This could happen still

4. Something about a tide going out and swimming naked

It's been trivial to short bitcoin for years
In that case, I wonder why nobody has profited off it yet. I mean the volatility seems very helpful here.
Shorting is risky since it's not solely a bet on that the asset value will go down, but rather a bet on when exactly it will go down.
I wouldn't short BC anymore than I'd short GME, there's a lot of get-rich-quick metooism and as the saying goes, the market can remain irrational longer than you can remain solvent.