Well, I made a fortune trading it in 2024, so there's that. I developed and tweaked my Bitcoin volatility trading strategy since early 2024 and I make a lot of money trading BITX whether Bitcoin trends up, down or sideways.

I do get "stuck" trades holding some incremental BITX at significantl unrealized losses when Bitcoin has big pullbacks like recently, but I just hold those until they turn into gains. In the meantime I continue to open and close more volatility trades using BITX at lower price points and just continue to make money.

I do make a significant amount more trading BITX with my strategy compared to just holding actual Bitcoin or a Spot ETF.

So I consider myself pretty knowledgeable about BITX. I also know it gained 170% in calendar year 2024 out earning Bitcoin and the Spot ETFs by a significant amount. It also loses about 2.5% in futures decay every month. BITX is way down calendar year 2025 at this point, but I always see opportunities trading it because Bitcoin loves to keep having decent price swings.

In summary, I think I understand BITX very well.

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Posted by tenderfoot tigah

Red Stick

Member since Sep 2004

11214 posts

Posted on 3/2/25 at 3:45 am to mmmmmbeeer

quote:
This is why folks who think crypto is dumb are right

If crypto had an actual use in the marketplace, a true alternative CURRENCY, it could very well be a place where investors run to in difficult times to remain liquid. But, it's not. It's nothing but an electronic token with no value whatsoever.

I mean, no shite it follows the market. Shockingly, when the market is going well, people feel good financially and are looking to invest, there's plenty of money to gamble on crypto. The stock market constricts? Ain't nobody looking to invest in something as incredibly risky and useless as crypto.

This whole memecoin thing going on is the absolute perfect presentation of what's wrong with crypto. In a matter of 5 minutes a person can lose millions of dollars while a creator pulls in dozens of millions in 5 minutes. It's a fricking scam.

Memecoins are dumb, but don't pretend like there isn't utility and value in blockchains like Ethereum and the many defi protocols out there.

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