Speculative wave, who go long

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Senior Member
Hi, everyone.

Source :BBC

(Crypto-currencies cause deaths, says Gates)

"Right now, crypto-currencies are used for buying fentanyl and other drugs so it is a rare technology that has caused deaths in a fairly direct way. I think the speculative wave around ICOs [initial coin offerings] and crypto-currencies is super risky for those who go long."

What does the hightlighted part mean?
Thanks in advance.
  • Bondstreet

    Senior Member
    English (UK)
    A "speculative wave" (a large "wave" of people) means a lot of people are betting on the price movements of something, in this case the price of Bitcoin.

    "Going long" means buying something (usually in a stock market or commodity market) in the hope that the price will rise, and that the product can then be sold at a profit.
    "Going short" is the opposite - the investor hopes the price will go down:

    >> "If an investor has long positions it means that the investor has bought and owns those shares or stocks. By contrast, if the investor has short positions it means that the investor owes those stocks to someone, but does not actually own them yet:

    investopedia.com - long and short market positions.
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