Bitcoin "Freefall"

Millionaire said:
I don't trade BTC or any other crypto, i am just a casual observer and sometimes try to warn people off this trashy instrument.

Lots of retail players are losing money with this collapse, so i feel no cheer.

Having said that if i had a short position in crypto, i probably would feel cheerful and not really care that all those retail traders are losing big time.
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Well.
When there are many sad faces,
There are also many happy faces too.
 
In the past 24 hours, 271,989 traders were liquidated, the total liquidations comes in at $1.07 billion.

The largest single liquidation order happened on Bybit - BTCUSD value $4.00M
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This is where leverage bites you...
 
deaddog said:
Now when I look at a trade I missed like not buying bitcoin in 2012 I just shrug it off as a oportunity lost.

I'm not sure I could have the same attitude it I had 8 figures and then let them slip away.

I mean if you had bought bitcoin for 1K, let it ride up to 67k, then come back to 23k. Have you made 22K or lost 44K
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If you somehow bought for 1K and rode it up to 67K you should have been out at 55K.
 
deaddog said:
***
I mean if you had bought bitcoin for 1K, let it ride up to 67k, then come back to 23k. Have you made 22K or lost 44K
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Hmm, is this a trick question? You made 22K and 22 times your money. Be happy.

I’m assuming you took the profit.
 
deaddog said:
I mean if you had bought bitcoin for 1K, let it ride up to 67k, then come back to 23k. Have you made 22K or lost 44K
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Really should have got out at 10K first time, made 10x, and been super happy.

Then got back in again on a 75% correction and made another 10x.

Easier said than done, but not being happy with 10x profit in just a few years is just greedy.
 
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savoir said:
Hmm, is this a trick question? You made 22K and 22 times your money. Be happy.

I’m assuming you took the profit.
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It was an if question. A what if I was way smarter than I like to think I am question.
No as a HOLDer I would still be a believer.
As it is I have never bought, sold or done anything with bitcoin.
 
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