Bitcoin crashes to $5

It was a general statement about the though that BTC would hit $5. Maybe the floor is 1K or 2K but it is far too big and too many people think like the OP. Its never going back into the triple digit range much less the single digit range unless something catastrophic happens.

>Institutional money is microsopic
Right now? Sure. In three months?
>What is Bakkt

>Institutional money is fucking microscopic, by the way.
This is probably the dumbest post I've seen on the topic of bitcoin.

one dude was saying btc is just pixels on another thread

>implying it's not

Go ahead, show me the self reported % of float owned by intitutions. It might be big to you but to them it is not. These $100,000 here and there are barely even a blip on the radar. 10% of one, amateur hedge fund trader’s accessible capital. And don’t tell me oh most of the coins are held by the top 100 holders. Who the fuck they are is not commonly known. You’re basically guessing that it is tutes. Really, they fucking hate it because it is a trash asset when your goal is to preserve and grow assets over long time horizons. Ultra volatile, produces no income, relatively illiquid, legally ambiguous. What a fucking score

Plenty of big wigs are getting in on bitcoin behind the scenes, user. Open your eyes.

Weahdeyatdoe
You are merely guessing this is happening (ie hoping) you have no other basis

>you have no other basis
The funny thing is that you don't have a basis either considering you yourself don't know the exact total of institutional money.

>uh

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you would make the same amount of money with a 10x leverage short all the way to 5$, that way you wouldnt have to wait for it to go up to profit

google what pixel is
google what blockchain is
now think about what you just said

Every normie i talk to about bitcoin always says the same thing. They've heard of it but none of them pay any attention to it. They don't even know it went to 19k

>now think about what you just said
I did. They are both pixels.

Errr thats a load of bullshit, lrn2math

If you bought 1000 BTC at $5 you have spent $5000. If you sell your 1000 BTC for $100k you have made $100,000,000 gross or $99,995,000 profit

By contrast $5000 short at 10x leverage = $50,000 worth of bitcoin sold on the market

Therefore your maximum profit would be $45,000 before fees if bitcoin goes to $0

you don't think we'll ever go below 6k again, do you?

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no, a short from 7k usd to 5usd is like an 1400x , leveraged x10, 140k x

so its, 5k usd investmen x 140k= 700,000,000

i dont think you know how shorting works

Bitcoin will crash hard when the next recession hits, that will be when i strike

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No it's you who doesn't understand how shorting works. Shorting is borrowing an asset to sell it on the open market immediately in the hopes that it goes down and you can rebuy it at a lower price. 7k to 5usd is not ANYTHING x unless you provide an upfront amount of collateral. So if you short 1 BTC at $7000/BTC and provide 1:1 collateral (also known as 1x leverage), you are putting down $7000 to cover any losses. You sell the 1 BTC for $7000, if the price goes down to $5, your profit is $7000- $5 = $6995. In this circumstance, your gain in terms of percentage on your $7000 collateral is 99.9% profit or 1.99x gain (the maximum gain being 2x derp). In this specific example, the liquidation price is $14,000 when the price of Bitcoin doubles from where you bought it.