ASHDRAKED

Ashdraked is a situation where you lose all your money, especially by shorting Bitcoin. It is a detailed
version of being Zhoutonged, which means losing all your money.

The word Ashdraked was first used in 2014/2015 when an agent who was named Lord Ashdrake, lost his
money by shorting Bitcoin at the price of $300 per unit. Lord Ashdrake was mainly a programmer who
belonged to Rome. This strategy worked for him quite efficiently when he shorted Bitcoin back at that
time.

When the price of Bitcoin started rising from $300, he made up his mind to shorten the Bitcoin market.
The rate at this time sustained through $300 - $500 and reached $600 in two months. His account was
at that point where he could no longer trade Bitcoin. What happened was that when Bitcoin prices kept
steady at $300, he and all the others who he urged to follow him kept the market shorted. But as soon
as the prices started to go up till $500, his technique was no longer suitable.

To sum up, Ashdrake was ruined following his strategy. As a result of this downfall of investment,
interactive brokers introduced this term as 'Ashdraked.' To save themselves from this downfall, they
convinced their clients to stay steady in their net investments in all future contracts. Most researches
say that because of the introduction of this term, 'saving the invested capital' has become a market
priority for the investors. The people who tried to short the Bitcoin market afterward ended up blowing
up their trading accounts. All these situations have changed market trends to a certain extent, and
shorting the crypto market is no longer a consideration. So, try not to get Ashdraked!
Video Source: https://www.youtube.com/watch?v=rUEIbzhMhGY
Reference: https://blog.bitmex.com/cboe-bitcoin-shorts-got-ashdraked/
https://www.cryptowisser.com/glossary/ashdraked/

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