What Does "Long" and "Short" means in Crypto Trading?
Ans:
In crypto trading, "long" and "short" refer to the direction of your bet on the price of a cryptocurrency.
* Long: This means you believe the price of a cryptocurrency will go up. You buy the cryptocurrency with the expectation that you can sell it at a higher price later.
* Short: This means you believe the price of a cryptocurrency will go down. You essentially borrow the cryptocurrency, sell it, and then buy it back at a lower price to return it, pocketing the difference.
Think of it like betting on whether a coin will land heads up or tails up. If you bet "heads," you're going long. If you bet "tails," you're going short.
Note: Shorting cryptocurrencies can be riskier than going long, as your potential losses can be unlimited. It's important to understand the risks involved before attempting to short a cryptocurrency.
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