In the past two months, several traders who shorted Bitcoin from its all-time high at $20,000 have started to cash out in the $3,000 to $4,000 range.
The closure of several long-term Bitcoin short contracts followed the publicized cash out of former International Monetary Fund (IMF) economist Mark Dow’s short contract on Bitcoin in December.
Speaking to Bloomberg, on Dec 18, 2018, Dow 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.
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