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I am bearish on $NIGHT but didn't open a trade
The reason for being bearish is that the project's market cap was 1.2 billion at the time
The reason for not shorting is because it is an ADA "child"
Now in the crypto world, it's all about background
As long as it is related to the top 20 by market cap
New coins born should not be judged by market cap for shorting
Apx initially had a violent pump and switched to aster
XPL experienced a short-term surge after a huge airdrop
The essence of these projects is that the behind-the-scenes funding strength is strong
The funding strength behind the top 20 projects
Is already different from other projects
And when you realize you can short,
This project has already fallen to a certain support price
Shorting is not very cost-effective