My thesis for longing/shorting BTC at this point is purely Elon Musk's tweets
Re:Shorting Bitcoin
by elliekelly on Tuesday June 29, 2021 @09:28AM
(#27675487)
Sure he tweets every time he pumps it up but are you confident he’ll give you (and all the rest of his followers) a heads up before he dumps it? I wouldn’t be. And for that reason alone it’s a fatally flawed investment strategy.
he just has to tweet something remotely bearish and the market craters
The last time he cracked a joke about BTC maxis and sure enough, the market dumped. When he talked about BTC's eco impact, it dumped hard as well. You can trace the pumps/dumps to the exact moment of his bearish/bullish tweets.
It's unreal
You should never base your shorts on solely rational points (long-term rational points, even worse) when going short on bubbly assets.
Things like "Bitcoin is not a viable payment method, it's centralized, possibly manipulated, fueled by the greater fool" is not a valid shorting motive unless you have a triggering event caused by your aforementioned rational point.