Bitcoin ushered in a super bull market in 2020. The price of the currency continues to set new historical highs, leading the entire line of cryptocurrencies to skyrocket. The market is in full swing. The sentiment of all the currency people is abnormally high. However, I bucked the trend and shorted Bitcoin twice with a 100-fold heavy position. Suffered a huge loss of 2 million!
2020 is a very unforgettable year for all speculators. First, the 3.12 plummeted, the entire network contract broke 10 billion, the spot price was cut across the board, and the market value shrank by more than half. After that, the market recovered all the way and ushered in a super bull market. Make countless people get rich overnight. There was a 180-degree reversal before and after, but I was the opposite. Before the bull market started, I made hundreds of times on options and contracts. After the bull market started, I went short at high positions, and the contracts broke out several million.
As we all know, Bitcoin has undergone the third halving in May 2020. According to the market analysis after the previous halvings, Bitcoin will usher in a big rise in the next few months. Therefore, after the halving, I opened options on BitOffer and continued to grow more contracts. I made 700,000 to 800,000 yuan in four or five months. Especially options, the hidden leverage is as high as a thousand times. When the market fluctuates greatly, you can win hundreds or even thousands of dollars with a few dollars, and the return is hundreds or thousands of times the principal. And it has no margin system, and there is no explosion. warehouse.
What impressed me the most was that on July 28, 2020, Bitcoin broke through 10,000 US dollars and set a new high for the year. After 4 hours, it smashed more than 1,300 US dollars. My contract was 50 times longer and the profit was less than doubled. The 4-hour call option earned more than 13,000 U.S. dollars at a cost of 400 U.S. dollars, and the return was more than 30 times the principal. It can be said that the contract is completely crushed.
Originally, I could follow the bull market to earn money and enjoy the benefits of the super bull market, but as the price of Bitcoin rose, I gradually developed the idea of shorting, especially when Bitcoin broke through 15,000 US dollars, which was a record of 18 years. After the new high, I was determined that it would not exceed 20,000, so I prepared the bullets, ready to go, and waited for it to approach 20,000, 100 times the heavy position short.
On December 16, 2020, Bitcoin arrived as scheduled, and the price was approaching 20,000 US dollars. I have been waiting for this moment for a long time. When Bitcoin rose to 19,800, I couldn’t wait to use 800,000 to open a 100 times leveraged heavy position to short. At the same time, I bought 10 1-hour put options. I thought that Bitcoin would have a 5,000-point plunge next, which would collapse the entire market, but who knew that Bitcoin skipped 20,000 US dollars and pulled to more than 23,800 US dollars in one breath. , An increase of more than 20%, my contract broke out before I could react, and all the more than 800,000 yuan was lost.
It’s said that after a short-selling failure, many people will quickly change their minds and follow the market trend and change short-selling to long-selling. However, I am a stick, and I decided to wait for Bitcoin to approach. I emptied it again when I was 30,000 dollars, and also enlarged the position, taking out all the more than 1.2 million possessions I had accumulated for half a lifetime to get a stud.
It took only half a month for Bitcoin to break through 20,000 U.S. dollars, and Bitcoin continued to hit new highs. On January 2nd, it reached the 30,000 U.S. dollar mark. This time I think the winning ticket is in hand. When Bitcoin broke through 29,700 U.S. dollars, it was 100 times short again. At the same time Buy 20 1-hour put options in batches, with the intention of earning back the previous losses with interest. But who knows that history is so similar. After Bitcoin broke through 30,000 U.S. dollars, it didn’t stop for a second, and it burst directly to more than 34,600 U.S. dollars, an increase of more than 16%. The tragedy happened again. My contract broke out every minute. More than 1.2 million instantly returned to zero.
Sure enough, against the market trend, I will die. This is the end of my shorting against the trend. If I chose to go long, or short contracts and long options, then I would not fall to the point where I am now ruined. Now, Bitcoin is about to exceed $40,000. I never have the idea of going short again, but I believe that there are still many empty dogs in the currency circle who are short on Bitcoin. I can’t wait to smash it to zero. I hope my tragedy. It will not happen again for you, good luck to you!