$1,511,000.00 to be lost or not?

[EarnOnVictor]

-snip-
Bitcoin price is currently at $65,113, just $200 to this trader's liquidation price.

I don't know what's wrong with these rich people or those who have the opportunity to trade with reasonable capital. It seems that what they are using in thinking his their feet rather than their brains. What's so pressing that you couldn't place an order that could breathe better?

Well, no congratulations to him. If the liquidation price is indeed accurate, he must have been knocked out of the market in the very first hours of yesterday (10th). The painful part is that Bitcoin dropped sharply shortly after the peak that ousted him, and has remained down since then. If he had lowered his risks, I am sure he would have gained much by now.

[jcojci]

Did he really lose? I thought the price reached more than $65,313 so that is a big risk for him if he use that money even if he has a lot of money. Top up more capital is not a good idea but if his desire telling that because he is sure with his analysis that Bitcoin will falling deeper, he can do that.

That is a behavior a gambler who don't know how to trade with his capital instead wasting in trading. If he wise, he will not risking too big money and just place some capital he can.

[slaman29]

Did he really lose? I thought the price reached more than $65,313 so that is a big risk for him if he use that money even if he has a lot of money. Top up more capital is not a good idea but if his desire telling that because he is sure with his analysis that Bitcoin will falling deeper, he can do that.

That is a behavior a gambler who don't know how to trade with his capital instead wasting in trading. If he wise, he will not risking too big money and just place some capital he can.

Yeah, price definitely hit 65450 everywhere I saw so this guy must have lost. He would be even dumber (or richer) than I thought if he topped up. But my guess is he actually can afford to lose the money, pure gambler behavior like you said.

Then again, the way all traders are doing margin now, who isn't gambling? I remember the chats back when exchanges had them, the pure degeneracy lol

[FinneysTrueVision]

Yeah, price definitely hit 65450 everywhere I saw so this guy must have lost. He would be even dumber (or richer) than I thought if he topped up. But my guess is he actually can afford to lose the money, pure gambler behavior like you said.

Then again, the way all traders are doing margin now, who isn't gambling? I remember the chats back when exchanges had them, the pure degeneracy lol

I thought the same but they are still around after making adjustments to their position. Their total profit and loss is now at more than -$700,000 and their liquidation price is at $64,606. They could still turn this around, although it seems doubtful right now.

https://hyperdash.com/address/0xff84dd888de8ac2ed9a44860dc44e57025d68f1d

[henmark]

This is just a gamble. Not too many has the balls to do a 40x leverage with a margin that high. He will either become a legend or become the next James Wynn.

This kind of risk tolerance is just absurd. I myself don't have the balls to try leverage trading with that kind of money.  Seeing a 700k floating loss would drive me crazy LOL. It's a rich mans game at that point.

That is what all of x40 leverage with high margins does to you; it's all gambling. Doesn't matter if you are spending 1.5 million dollars or 1.5 dollars, it is all gambling. Proven by the fact that if this guy is someone who can do this, he must be someone who is a veteran trader; you are not going to see, even Elon Musk, risk 1.5 million if they have never done this before in their life. If this guy is putting up this much money, he must have done a lot more in the past. However, another thing to remember is the conspiracy theories as well.

This has happened a bit before Microstrategy sold again; this means a dude who thought the price would go down for some reason risked this much money. The talk right now is that could it be someone who is inside the firm that knew this would happen? Could it be someone they know? Saylor will not do it himself; it would be risky, but he could let someone else know and get some help outside and tell them that he is going to sell and short it before he does? Maybe that did not work out well for them, because Microstrategy selling again did not crash the price, and right now it looks like it's as good as gone. But it could have been something like that.

[Alphakilo]

Yeah, price definitely hit 65450 everywhere I saw so this guy must have lost. He would be even dumber (or richer) than I thought if he topped up. But my guess is he actually can afford to lose the money, pure gambler behavior like you said.

Then again, the way all traders are doing margin now, who isn't gambling? I remember the chats back when exchanges had them, the pure degeneracy lol

I thought the same but they are still around after making adjustments to their position. Their total profit and loss is now at more than -$700,000 and their liquidation price is at $64,606. They could still turn this around, although it seems doubtful right now.

https://hyperdash.com/address/0xff84dd888de8ac2ed9a44860dc44e57025d68f1d

Besides the fact that this trade of about $1.5m net worth on Bitcoin not moving $200 upwards in this current unpredictable market is suicide, this is just a pure example of high stakes leverage and with the characteristics of a rich gambler with enough funds to lose and not be bothered about it.
The odds were indeed terrible to begin with and am sure as at this time it's too late to try to turn this around into a safety zone but the lessons have been learnt.
Anything could have happened still, because of the effect of volatility and speculation and the unstable price margin of Bitcoin as at then, but only a very rich mad person should try to replicate this trade anytime soon.

[FinneysTrueVision]

The odds were indeed terrible to begin with and am sure as at this time it's too late to try to turn this around into a safety zone but the lessons have been learnt.
Anything could have happened still, because of the effect of volatility and speculation and the unstable price margin of Bitcoin as at then, but only a very rich mad person should try to replicate this trade anytime soon.

They were near the break even point some hours ago and currently their all time PNL has been reduced to -$128,000. With 40x leverage, any small dump could make them profitable again, but it could just as easily go in the opposite direction.

[slaman29]

Yeah, price definitely hit 65450 everywhere I saw so this guy must have lost. He would be even dumber (or richer) than I thought if he topped up. But my guess is he actually can afford to lose the money, pure gambler behavior like you said.

Then again, the way all traders are doing margin now, who isn't gambling? I remember the chats back when exchanges had them, the pure degeneracy lol

I thought the same but they are still around after making adjustments to their position. Their total profit and loss is now at more than -$700,000 and their liquidation price is at $64,606. They could still turn this around, although it seems doubtful right now.

https://hyperdash.com/address/0xff84dd888de8ac2ed9a44860dc44e57025d68f1d

First reaction from me? Inner facepalm. Then I read more and more and I'm now convinced this is just for show. I don't know how, maybe he has a deal with the platform, or maybe its not his money, but like those streamers who play 20 hours and suddenly hit the jackpot, this is a gimmick to get views and exposure.

He could be right on the short, I have to say, just insensible for such a tight margin border.

<> but the lessons have been learnt.

Apparently not as he kept the position