Over the past 8 hours 6 million bucks of shorts were bought on Bitfinex. Half have already realized what a bad idea that was and closed their positions.
Maybe those geniuses had a plan? 1) Lets ignore the trend, sell short and push the price down. 2)... 3) profit. LOL. Damn furry faggot bears.
Oh you should know, selling short actually pushes the price UP because you're basically borrowing from a hodler and paying interest.
I want to go short, so you buy coins @ market and lend them to me, so I can start pressuring the price down. Awww... good for you ;) <- this has to be the missing 2) ...
That's right, you get no short without a buy
If I lend you coins to sell short today, trust me, I did not buy it at market _today_. I had it at much lower price.
I mean it was a logical place to sell cuz there was resistance, also there's a major major bug in BTC. Hilariously, people hear the words "chain split" and instantly think FREE COINS
