I closed 90% of my ETH long. Because of pea brain bagholders that cannot figure out they got scammed this pathetic market moves super slowly.
Most of the profit I locked in long and short vanished through funding and rollover so why bother? Should I hold ETH another 2 months just to get my fees money back if it goes up only?
Very negative sum game.
Absolutely pointless.
Still holding that short on BTC since 7200.
One of 2 things will happen:
A- We crash. A quick dump. Bounce then re-dumps.
B- We slooooowly go down.
Its probably going to be B.
Same reason why ridiculous scams on the internet work (nigerian prince asking 5000$ to unlock 1 million he will share with you, people that fall for this are amazed to find out it is not real. Ex2 you are the 100000th visitor and won an iphone for 1£ just clic here and provide your credit card number.
This obvious ponzi has so clearly been targetted to uneducated and vulnerable fools, that legit think they struck oil, now there is no way they will change their minds and sell hence slow downside.
They are several of these and they talk together, they feel stronger and right since others think like them.
This is the exact same as members of sects.
Even when their guru gets convicted with proof they throw themselves in front of bullets and it is impossible for psychiatrists to ever fix them.
Some of these gurus told their brainwashed idiotic cultists "I will take your wife. Your daughter too." Guess what, the subhuman garbage retarded monkeys gladly gave their wives and daughter away.
Tbh I think crypto cultists are much more stupid.
They get convinced to buy and hold by people that:
- Tell them they bought early, so clearly are interested in greater fools coming in
- Have NO RISK. There is (supposedly...) no jail for all these scammers. They have every reason to scam, and no downside.
Hey lets buy worthless magic beans that give us no right, do nothing, are pointless; why wouldn't we? For a whole handful of years bigger fools have kept buying this crap, defying the bearish economists the laws of logic and proving how stupid people can be when a shiny magic carrot is held in front of them.