ATTENTION EXCITEMENT JUNKIES! Wrestling crocodiles too tame? Skiing in front of an avalanche not doing it for you? Sending sexy text messages to work colleagues getting dull? How about SHORTING BITCOIN? Now THAT’S a rush and here are some ways to do it. Actually, if you followed FintekNews, you would have known you could have traded futures/options on bitcoin through London-based CryptoFacilities which we began following over a year ago. Of course if you had been short over that time frame you wouldn’t be reading this since your tears would make everything blurry. So, get your “thrill on” and take a walk on the short side.
Bitcoin’s assault on $10,000 has stirred bears who see fresh evidence of a bubble. There are ways to bet on a crash, but they’re even riskier than trading the cryptocurrency on the way up.
The options to short bitcoin are mostly through unregulated exchanges, and very risky given bitcoin’s volatility. Not to mention it hasn’t exactly been a good year for bitcoin bears given the 10-fold surge in price. But for those daring enough to try, there are ways to bet against bitcoin’s rise.
“All the options to short in common markets are becoming available in the bitcoin market,” said Charles Hayter, co-founder of market tracker CryptoCompare. “There’s pretty good liquidity for shorting bitcoin. The main difference with shorting the Nasdaq for example, is it will be a lot more volatile, so there’s a lot more risk. The rate to borrow will also be a bit higher.”
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