Losing Bitcoin Due to Fake News is Maddening! Story told in cartoons.

# There Will Always Be Fake News. # Yesterday when I woke up early, analyzed my charts and placed my orders, I imagined a normal Friday. Then all hell broke loose. As I said in an earlier blog post I have been long since the last crash. There was no signal that told me that I should have been shorting Bitcoin. ## WTF is Happening. ## As I scoured the web and the trading channels I could not find any news as to why Bitcoin took this huge drop. So I bought more positions long thinking it was a flash crash. Which is quite normal for Bitcoin. Then @GoldSeek mentioned in my trading group that the Chinese government was banning Bitcoin. #WTF https://media1.giphy.com/media/3o6ZsWGKdgltHneCBi/giphy.gif ## Then I Start to Sell Some Bitcoin Positions Because this is Going to Get Ugly. ## I felt powerless because there is no telling how low Bitcoin could go. The Chinese were selling at a rate of 2X1 compared to everyone else. Could this news be true? https://media.giphy.com/media/3o6ZtjgOj9QULzqdyg/giphy.gif ## It is Fake News! ## Everyone starts reporting that it is fake news and the selling off slows down. I start buying positions again hoping to recover the BTC that I lost. I have a pretty substantial position and I have to leave the house to go to the chiropractors office. I left hesitantly. Looking back I wish I had just cancelled. https://media.giphy.com/media/l0HlSyTNg2fzFDV5K/giphy.gif It took an hour to get to the appointment. By the time I arrived BTC was down another $100. Oh my God, what the hell am I going to do? I had to sell off a few positions and put some buy orders in down below to protect against liquidation. This is not good. The Doctor asked, "why is your blood pressure and pulse high?" I am loosing a ton of money Doc! He says, "that's right you are the Bitcoin guy." https://media.giphy.com/media/3o6Ztn8vq10oicl4NW/giphy.gif ## I Go to the Casino. ## Since it was too late to head home without fighting in rush hour traffic @AnaHilarski and I decided to go to the casino and to dinner. I was quite depressed so we went to a very nice Argentinian steak house. We never eat steak! Hell, who knows it might be our last meal. During this time I put in some small positions and made back a portion of my earlier losses. Thank goodness for the ability to trade on Bitmex using my phone. ## We Make it Home Where I can Trade Bitcoin Normally. ## Over the next few hours I made back about 25% of my losses. I also was pretty confident that the market would trend upward overnight and it did. This made me another small chunk towards recovery. Now as I sit here writing about the carnage unleashed upon my trading life, over the last 24 hours, it looks like Bitcoin has shrugged off another attack. https://media.giphy.com/media/l0HlBgI0PQo3Lal5S/giphy.gif ### I Hope You Enjoyed this Story. ### Bitcoin trading is not for the faint of heart. If you can handle the ups and downs of trading and you are not living in the USA then I recommend you get a [BitMex](https://www.bitmex.com/register/vAg9cN) account. Use my link to get a six month discount on your fees. Always trade with caution. If I would have traded at anything over 10X I could have lost much more yesterday. Have an amazing weekend everyone. I have to get back to the battle and win back my BTC. BTW, yesterday was the first day that I did not write on Steemit in a year. I think everyone can understand why. ; ) https://img1.steemit.com/0x0/http://www.randyhilarski.com/wp-content/uploads/2016/10/Randy-Banner-Steemit.jpg
Losing Bitcoin Due to Fake News is Maddening! Story told in cartoons. posted first on https://steemit.com/@hilarski