Over the past two months, we have seen a lot of Bitcoin news in which it was reported that the most dominant cryptocurrency is falling behind its all-time high. However, a lot of investors remained optimistic about Bitcoin and its future path even despite the big losses.
Right now, it seems like that optimism is slowly fading – and we are seeing many investors sharing their thoughts online and revealing their cash outs. One of them is a crypto trader with an online alias “Cryptofungus” who revealed that he had recently closed a year-long Bitcoin short contract.
closing my $BTC short from 19,665.39 here
— Cryptofungus (@crypt0fungus) February 11, 2019
Aside from this trader, we have seen another publicised cash out of the former International Monetary Fund (IMF) economist Mark Dow – on his short contract on Bitcoin in December. While speaking to Bloomberg, Dow then said:
“I’m done. I don’t want to try to ride this thing to zero. I don’t want to try to squeeze more out of the lemon. I don’t want to think about it. It seemed like the right time.”
This is enough for us to see that throughout the past 14 months of the bear market in the history of crypto, even the most optimistic investors are backing out. And while in February 2018 last year the Bitcoin price went from $5,920 to $11,780 at its monthly peak and backed up its momentum, this February BTC remains idle and without any movement towards the upside.
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