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The first-ever 3x levered bitcoin funds are launching in Europe next week. The timing couldn’t be worse.
Bitcoin is having a bad week on top of a rough month: The benchmark cryptocurrency is currently down more than 33% from its October all-time high of $126,272.76, wiping out more than $1.2 trillion in market cap. If you somehow foresaw this huge drop in the price of bitcoin and took out a bearish position, you could’ve made a lot of money on your trade. If you guessed incorrectly, you would’ve lost a lot. However, thanks to a new leveraged financial product, traders will be able to up the ante on bitcoin’s swings — either multiplying their money, or potentially losing everything. Exchange-traded-fund analyst ... (full story)
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