When ALPACA crashed, many people and traders thought it would recover quickly. That was a wrong assumption based on poor experience. I noticed the funding fee was extremely high when the price was around $0.29, and I checked — there were about $889 million in long positions.
It was clear the coin was setting up for a crash to liquidate these longs and generate profit. That’s why I took a short position — and made a 510% profit, which equals $7,223. Congratulations to all the traders who followed the live trade! We hit our target within just 45 minutes.
We don’t want to hold these kinds of trades for too long because exchanges charge funding fees after 1 hour or every 8 hours, depending on the terms. Always play it smart and scalp these opportunities!
