Traders Who Shorted Bitcoin From All-Time High $20,000 are Cashing Out: Is The Bottom is Near?
In the past two months, several traders who shorted Bitcoin from its all-time high at $20,000 have started to cash out in the $3,000 to $4,000 range. On February 12, a cryptocurrency trader with an online alias “Cryptofungus” revealed that he had closed a year-long Bitcoin short contract. The trader shorted the dominant cryptocurrency since $19,665.39. At the time of reporting, the price of BTC remains just above $3,500.The closure of the trader’s Bitcoin short follows the publicized cash out of former International Monetary Fund (IMF) economist Mark Dow’s short contract on Bitcoin in December. Speaking to Bloomberg, ... (full story)