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Comment by mamon | Hacker News Reader

Yes, and that's exactly what's happening right now, that's why Bitcoin price rose from 10k to 32k USD since September. Music is going to stop soon, and people are desperately looking for chairs to sit on.

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Tether's market cap has increased a ton in the past few months.

BTC's market cap is like over 600 billion...

Huge institutional accounts are taking their coins off exchanges and putting into cold storage.

How does that go along with what you're saying?

In my opinion, that is not why Bitcoin’s price rose last month but I do not wish to share all that I know and give my hand away (for free). Many investment managers, who previously only flirted with cryptocurrencies, have started making rather high price predictions to their followers or investors. Most hold a 1% to 5% of their portfolio in bitcoin or other cryptocurrencies as a hedge but not as a primary bet. If I remember correctly, a 1% position in Bitcoin in 2017 combined with a 99% position in the S&P500 would’ve doubled the performance of a 100% S&P500 portfolio. Something like a 14% return vs a 28% return. (Then in 2018 if you didn’t rebalance your portfolio, it would’ve dropped down quite a bit.)

Did someone downvoting me because I disagree with you that bitcoin will go down to 1000 USD? Alright, if you’re bearish and you think it will go down, put your money on it! Buy put options, sell bitcoin futures, or short bitcoin. Any of it works. Many cryptocurrency exchanges let you short against a USD stablecoin, many brokerages let you sell futures, and half a dozen brokerages let you buy put options (or sell call options). But don’t put any more money on your bet than you’re willing to lose!

Heck I’ll even give you an offer, if you want to let me know what your position is, I’ll take the other side!

Put your money where your mouth is.

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