Mishaboar Urges Caution in Crypto Derivatives Market
Recently, Mishaboar took to social media to provide a stern warning to Dogecoin investors and traders regarding leverage and derivatives in the cryptocurrency market. As excitement grows within the Dogecoin community over the potential listing of Dogecoin futures on Coinbase in April, Mishaboar cautioned against the risks involved in such trading.
Stay Away from Leverage and Derivatives
Mishaboarโs message to DOGE investors emphasizes the need to steer clear of leverages and derivatives, particularly in the weeks ahead. He believes that while cryptocurrency trading itself carries inherent risks, the leveraged and derivative markets pose an even higher level of risk that may not be suitable for many investors.
- Mishaboar advises against engaging in the volatile cryptocurrency market
- He likens trading in crypto to a gambling house
- Traders face stacked odds against them
- Market makers have an advantage
- Derivatives market poses unacceptable risks
- Assets in the market are already highly volatile
Market Volatility and Unpredictability
He pointed out that trading in the current cryptocurrency market under volatile conditions, exacerbated by the upcoming Bitcoin halving event, could lead to significant losses for traders. Mishaboar also highlighted the influx of liquidity from new markets and the potential conflict of interest within exchanges as contributing factors to the unpredictability of market movements.
- Mishaboar warns against trading during the upcoming Bitcoin halving event
- Increased volatility raises risks for traders
- Exchanges may have conflicts of interest
Coinbaseโs Plans for Dogecoin and Pepe Futures
In a recent announcement, Coinbase revealed its intention to list Dogecoin futures on the exchange in April. This decision is part of Coinbaseโs strategy to broaden its futures offerings to cater to the needs of its expanding trader base. Alongside this development, Coinbase also launched Bitcoin Cash and Litecoin futures contracts to enhance digital asset accessibility for traders within a regulated framework.
Exciting Addition of Pepe Futures
In another update, Coinbase shared plans to introduce Pepe (PEPE) futures on its platform. The Pepe futures, labeled 1000PEPE-PERP, will join the list of perpetual futures available for trading on April 18 on both the Coinbase International Exchange and Coinbase Advanced.
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