# Hedging 

*How to insure your bags*

By [The Know Haus](https://paragraph.com/@knowhaus) · 2024-05-01

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The nice part about financial markets is that you can react accordingly and make money. If markets dump, you short; if markets pump, you go long. You can even make money by predicting the outcomes of events.

The $DEGEN short was too obvious, but I missed most of it because I didn’t know ByBit had perps (rekt).

I found out about ByBit perps when I was searching the Coinalyze charts and bingo, the perps chart was there.

![](https://storage.googleapis.com/papyrus_images/87472293ac7a9c2438e7f596a9d55662.png)

But it is ok I still managed to do some scalps on the way down.

For $DEGEN I think we'll reach support at pre-DEGEN chain levels.

Stay SAFU, legends

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*Originally published on [The Know Haus](https://paragraph.com/@knowhaus/hedging)*