Day trader Mark Szemeszki spent last year getting into the oil trade and by shorting bitcoin.He also explained why he's currently 100% in cash — but why shorting altcoins could soon make sense.
Szemeszki, who lives in Denmark and holds a master's degree in accounting and finance, also jumped in on the oil trade just when the Russia-Ukraine crisis commenced, which provided his investments with an additional external shock that spiked the commodity's prices. When all was said and done, he claims he saw a 380% return.
"There are really rare cases and they open up opportunities, meaning that something is off with market pricing in the short term," Szemeszki explained on theAs it pertains to altcoins, he usually focuses on those with small- to mid-sized market capitalizations, generally between the $100 million to $200 million range.
The Federal Reserve's rate-hiking cycle, the ongoing Russia-Ukraine crisis, and the Chinese economic reopening and expansion have also added to the market's increased volatility.