[1experience]

This is how to lose money with shorting 101.

You should never base your shorts on solely rational points (long-term rational points, even worse) when going short on bubbly assets.

Things like "Bitcoin is not a viable payment method, it's centralized, possibly manipulated, fueled by the greater fool" is not a valid shorting motive unless you have a triggering event caused by your aforementioned rational point.

[puranjay]

My thesis for longing/shorting BTC at this point is purely Elon Musk's tweets

[elliekelly]

Sure he tweets every time he pumps it up but are you confident he’ll give you (and all the rest of his followers) a heads up before he dumps it? I wouldn’t be. And for that reason alone it’s a fatally flawed investment strategy.

[puranjay]

he just has to tweet something remotely bearish and the market craters

The last time he cracked a joke about BTC maxis and sure enough, the market dumped. When he talked about BTC's eco impact, it dumped hard as well. You can trace the pumps/dumps to the exact moment of his bearish/bullish tweets.

It's unreal