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Bitcoin => Press => Topic started by: freedomno1 on January 11, 2021, 02:44:54 PM



Title: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: freedomno1 on January 11, 2021, 02:44:54 PM
Bitcoin Crash Liquidates 262,344 Traders
Nearly $2 billion worth of long Bitcoin positions got liquidated in less than 24 hours.
Bitcoin price plunged nearly 20% in the past 24 hours as the price dip created panic among retail and institutional investors.



https://www.financemagnates.com/cryptocurrency/news/bitcoin-crash-liquidates-262344-traders/

https://preview.redd.it/c0qrfpdckr631.jpg?auto=webp&s=6f5e2471f1ac0d098053a96e08c87a2b2f12ce1e


Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: hv_ on January 11, 2021, 02:56:40 PM

Holy

I d say it kills many average Joes. Big guys have more informations... esp in such unregulated markets



Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: cr1776 on January 11, 2021, 06:19:06 PM
And this is why drops are intensified, people buying on the margin and then getting liquidated when they don't have sufficient capital to cover their positions.  I am not sure why they think this is/was a smart idea, but I doubt people will learn anything from it.



Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: hv_ on January 12, 2021, 09:11:08 AM
And this is why drops are intensified, people buying on the margin and then getting liquidated when they don't have sufficient capital to cover their positions.  I am not sure why they think this is/was a smart idea, but I doubt people will learn anything from it.



also

FCA now mitigate such risks for you

https://coingeek.com/digital-currency-derivatives-ban-now-in-effect-in-uk/


Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: neslycrack65 on March 27, 2021, 09:12:59 AM
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Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: acquafredda on March 27, 2021, 10:37:02 AM
And this is why drops are intensified, people buying on the margin and then getting liquidated when they don't have sufficient capital to cover their positions.  I am not sure why they think this is/was a smart idea, but I doubt people will learn anything from it.



also

FCA now mitigate such risks for you

https://coingeek.com/digital-currency-derivatives-ban-now-in-effect-in-uk/

Eventually that is going to happen in every jurisdiction as people's lives are on the line here. Obviously there has been a clearly distorted narrative (the get rich quick or the when lambo for example) that brought onboard a few rich kids and grannies who are not capable to handle the bitcoin beast.
I, for once, agree with the FCA.


Title: Re: 2021-01-11 FinanceMagnates Bitcoin Crash Liquidates 262,344 Traders
Post by: cr1776 on March 30, 2021, 06:52:07 PM
And this is why drops are intensified, people buying on the margin and then getting liquidated when they don't have sufficient capital to cover their positions.  I am not sure why they think this is/was a smart idea, but I doubt people will learn anything from it.



also

FCA now mitigate such risks for you

https://coingeek.com/digital-currency-derivatives-ban-now-in-effect-in-uk/

Eventually that is going to happen in every jurisdiction as people's lives are on the line here. Obviously there has been a clearly distorted narrative (the get rich quick or the when lambo for example) that brought onboard a few rich kids and grannies who are not capable to handle the bitcoin beast.
I, for once, agree with the FCA.

There are idiots all over the place whatever the asset.  TANSTAAFL for one thing.  People who think it is a get rich quick scheme haven't been following along.  :-)  I am usually of the opinion that people should be free to make their own decisions, even dumb ones, but without knowledge, derivatives are like handing teenagers a case of whiskey and the car keys.  Someone is going to get hurt and it is irresponsible to give them both. 

Look at Archegos, Credit Suisse, DB, NMR, UBS, GS, MS etc.  The hedge fund was supposedly knowledgable and yet wasn't. These prime brokerages were supposedly smart investment banks, and yet weren't.  Where was upper level management at these banks?  Where were the risk managers?   Where were the automated systems that flag things?  Anyone looking for a quick buck without understanding what is going on is bound to lose money eventually.  Kind of like Macau, Las Vegas, Monte Carlo etc. If you are innumerate, one shouldn't gamble unless it is purely for fun like a movie ticket that you have a good chance of losing.