$7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
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Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#2What's interesting about this is I could see it coming a few days ago. Funding rates on FTX were super high, so you could see people were getting reckless with leverage leading up to this.
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#3Predictable angry comment about the stupidly large ad on this site for eToro: apparently my thumbs are too fat to close it, when do I get my complimentary dialling wand?
So fat in fact that it opens the ad no matter what I do, only to be told that eToro is not even available in my country.
So not only do I see a massive ad that makes the article hard to read, I can’t even close it, and it’s for a product I can’t buy.
I hate this, and everybody involved in implementing it should be ashamed of themselves.
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#4What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that I had bought, or smugly and glad that I didn’t. I have absolutely no indication one way or the other. Source: played around with crypto a lot 5-6 years ago, got out of it, and could retire today if I had held.
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#5What I hate about Bitcoin is that I have absolutely no idea if this is 1) a good dip to buy, or 2) the start of a much bigger crash. Everything I understand about the topic and the world at large tells me it should be #2, but in retrospect it always winds up being #1. Am I passing up free money today? Or am I smart not to gamble in such an obviously rigged game? Will I look back years from now longingly and wish that…
Spread your chances. Buy some now, buy some again later when it crashes even further. If it doesnt crash further, at least you profited from the current dip.
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#6It could be up to 100k in a week, could be down to 20k or anything in between. I honestly have no idea which one is more likely and wouldn't be surprised by any price, high or low. I'm also very skeptical of anyone who claims to know what's happening in the cryptocurrency market and why.
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#7Serious question: why does a reduction in hash rate lead to a loss of USD pricing? That's analogous to pricing USD based on the number of lights on at the NY Federal Reserve at 10pm on Tuesday. I recognize hash rate moves these markets, but seriously, why?
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#8Serious question: why does a reduction in hash rate lead to a loss of USD pricing? That's analogous to pricing USD based on the number of lights on at the NY Federal Reserve at 10pm on Tuesday. I recognize hash rate moves these markets, but seriously, why?
>why does a reduction in hash rate lead to a loss of USD pricing
it doesnt
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#9If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy
Re: $7.6B in crypto long positions liquidated in 1 hour as Bitcoin plunges to $52k
#10If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy
Said the people laughing at those who bought in at $20k in 2017/18