{"id":467613,"date":"2021-07-16T23:00:03","date_gmt":"2021-07-16T23:00:03","guid":{"rendered":"https:\/\/wncen.com\/?p=467613"},"modified":"2024-06-11T13:57:07","modified_gmt":"2024-06-11T13:57:07","slug":"is-this-the-bitcoin-bottom","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/is-this-the-bitcoin-bottom\/","title":{"rendered":"Retail Traders Pile On Shorts, Is This The Bitcoin Bottom?"},"content":{"rendered":"

Bitcoin has recently fallen below a $32,000 critical hold point and in response, retail investors have taken this as an opportunity to make money from the falling bitcoin price. So far, retail investors have started loading up on shorts, an incredibly bearish metric for the market.<\/p>\n

\"chart<\/p>\n

Retail investors load up on shorts | Source: Twitter<\/a><\/pre>\n
So many shorts placed in such a short period of time might show other investors that the price of the digital asset will fall eventually and thus, lead to panic selling. Although this is never always the case. The fact remains that no one exactly can pinpoint what will happen with the digital asset and as such, every short or long being placed now are mere bets. More akin to guesses than actual predictions.<\/p>\n
Related Reading |\u00a0I Stand By My $100,000 Bitcoin Price Target, Anthony Scaramucci<\/a><\/strong><\/em><\/p>\n
According to this Twitter post<\/a>, retail investors have been consistently short squeezing the digital asset as the market struggles to rebound. This might show that the digital asset now more than ever might be close to the famed bitcoin bottom.<\/p>\n
Cascading Lows<\/h2>\n
Investors poured in their opinions on the longs being placed by retail investors. A user posted that this might lead to more of a cascading bottom that will be much greater than anything reversal.<\/p>\n
\n
Chances of cascading bottom much greater than any reversal here. Money on retail for once.<\/p>\n
— Crazy Tuliped (@TonyD0214) July 16, 2021<\/a><\/p><\/blockquote>\n