The stock market has me pissed off today, pushing me to start actively short selling Coinbase.
On Tuesday, we had a crypto flash crash that saw Bitcoin fall about 10%, Ethererum sink about 15% and Altcoin tank around 25%.
And that’s normal for cryptocurrency — they’re volatile. I’ve been in the trading game for a while and have been through cycles like this, but that’s not what has me so mad…
I’m mad because I wait for moments just like that — a flash crash — to buy more crypto. That’s generally how I like to trade… I wait for volatility downdrafts and I buy those dips.
So I did my normal process, saw the move in crypto and saw my portfolio getting decimated. I had two options in that situation: I either do nothing. Or, if I have fresh cash or “dry powder,” I buy more of the asset.
So I ended up putting an order in to buy Ethereum via my Coinbase account — which in hindsight was the absolute worst thing I could have done — and things did not go as planned…
Why Traders Should Start Short Selling Coinbase
On Tuesday, I put an order to buy $3,425 in Ethereum (ETH) through Coinbase.
Now I’m sitting here behind my computer — more than 24 hours later — and I still haven’t gotten a confirmation of my trade. My money is out of the bank, but here I am just stuck in limbo.
Coinbase is telling me it’s pending, but I know I’m not the only trader with this problem.
What could Coinbase possibly be waiting for? For ETH to go up another 20% from where it is now before filling my order?
It isn’t acting like a brokerage firm that’s regulated, that’s for sure…
So what I’m here to tell you today is that traders need to stop selling crypto and start short selling Coinbase…
And I’m going to show you exactly how to do it.
If you want to learn more about short selling Coinbase, make sure to watch my video below!
As always, send any trading questions to jeff@joyofthetrade.com and stay ahead of the markets, especially these choppy ones, by subscribing to our YouTube channel.
