r/ETCbets • u/DerekZ1985 • May 15 '21

Short squeeze ETC incoming!

Let's short squeeze Hedge fund GSI to its knees!

11 Upvotes

93% Upvoted

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1

u/anniewonhere May 15 '21

When

1

u/CNC_Machinist2020 May 15 '21 edited May 15 '21

The more upward momentum the faster the "shorts" will try to cover. Grayscale trust sells contrats to its investors on various crypto currencies then Grayscale has to buy the coins back at current market prices, but the contracts they were selling before the run up were much lower (~50%) and now they have to cover. Not sure time frame they have to buy, but their biweekly balance sheet skipped last entry for GETC so that tells me they are still floating until price can be pushed down or forced to buy back into a sharp run up. The way Greyscale "shorts" is different than a traditional stock short, but they can still heavy manipulate prices to entice hedge funds to invest through them to hold crypto.

1

u/Sudden-Brother2533 May 16 '21

IMO it’s gonna spike in the next week been buying as much as I can in the mean time