MultiversX Tracker is Live!

Please try and talk me out of this.

All Cryptocurrencies

by COINS NEWS 80 Views

So… basically, while I was walking around listening to premium hopium about the black rock BTC ETF odds and potential price impact today, a risky idea popped into my head.

After watching the price plummet like 5% in about as many minutes a couple weeks ago, after the “rejection” news dropped, I am now operating under the assumption that when/if a spot ETF is approved, that the usd value will surely skyrocket immediately and for a while after.

Im wondering if it would be a good idea to have leverage set up for this eventual scenario. I have never used it before, but I fully understand the risks to it, which is why I have never seriously considered using it during normal times. And because nobody knows SAF when it comes to crypto. I’d never go full 100x, but what could actually go wrong if I just used light leverage, like say 3-5x?

I just feel that the risk of liquidation at that level, requiring a minimum 20% drop based on 5x, is minimal after such an event. I have spent plenty of time watching the charts and I’ve seen many pumps play out already. Obviously if we got a god candle of +30% in an hour or something crazy I would wait for a pullback before entering.

I swore I would never gamble my hard earned coins with leverage but I’m struggling to convince myself that this is a bad idea when I consider the risk/reward. Help.

submitted by /u/OverallHearing5
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments