$BTC Here I will explain why I have tried to buy Trump coins several times. And every time, I end up failing.
Trump tweeted last night, asking whether they had hamburgers or Coke at the dinner.
The ranking on the official Trump website has been continuously updated.
Some big shots are competing with Sun Yuchen for the rankings. Every few hours, the Trump coin releases updates.
Someone withdrew tens of thousands of Trump coins from the exchange. Then that person's ranking started to rise.
If Trump coins are withdrawn as spot, then circulation decreases.
The Trump official requires that participating Trump coins will be locked for 90 days. So there's no possibility of crashing the market.
Currently, it is maintained at a price of $15.
This position is not high. The officials may also restrict retail investors from profiting and crashing the market.
Moreover, the holding of Trump coins is highly concentrated, mostly in the hands of the big players.
Shorting was a wrong decision for me.
The key issue is that I opened my contract a bit too large. I opened a contract worth over $8,000 with $500.
The market might spike and blow up the contract before going back up.
The contract mechanism is such that if I open a position for a dollar increase, the platform will short for a dollar.
There are many people with the same idea, buying on the rise.
Later, I chose to short for this reason as well. Since you all are bullish, I will go bearish.
I didn’t expect this market to have a turbulent upward and downward movement.
Both buying and shorting resulted in losses!
[Facepalm]
