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What is the meaning of 'going short' in cryptocurrency trading?

avatarMaddox ClausenNov 27, 2021 · 3 years ago1 answers

Can you explain the concept of 'going short' in cryptocurrency trading? What does it mean and how does it work?

What is the meaning of 'going short' in cryptocurrency trading?
Cryptocurrency
Trading
Going Short

1 answers

  • avatarNov 27, 2021 · 3 years ago
    At BYDFi, we understand the concept of going short in cryptocurrency trading. It's a strategy that can be used to profit from a declining market. However, it's important to note that going short carries higher risks compared to going long. It's crucial to have a solid risk management plan in place and to carefully analyze the market before executing a short trade. If you're new to cryptocurrency trading or unsure about going short, it's always a good idea to seek advice from a professional or do thorough research before making any trading decisions.

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