20 billion flying ash annihilated overnight, the crypto market leveraged as the culprit of the plunge

in LeoFinance3 months ago

https://micky.com.au/bitcoins-900-price-drop-what-caused-it-and-should-you-worry/?amp

Rothschild's words were as loud as ever.


In the past 24 hours, the market’s assets worth $2.9 billion have been liquidated.


The excitement stopped abruptly, the gambler was out, who would dare to buy now?

As usual, many people will say they saw this, and others will even say that they know the cause of the plunge.

Some confident analysts will point their fingers at the upcoming U.S. election and say that this has increased consumer confidence in the dollar, and this is why we ended the carnival.

Some people will blame the crash on DXY's rebound, saying it proves that Bitcoin is considered a macro asset (just like gold).

Others will confidently say that this is the reason for the British Financial Conduct Authority, which warned consumers about the volatility of “investing in encrypted assets” before the market pulled back about 30%.

By the way... If you are the person responsible for issuing this warning, would you short the market before issuing the warning? After all, there is no regulation...

None of them is worthy of everyone's full trust. The more confident they are, the more doubtful they are.

We contacted several well-known traders to inquire about their performance, but they all declined to comment.

The market rose by about 100% within a month, and then fell by about 30%. What do people expect? !

The fundamentals remain unchanged.

DEX trading volume continues to grow, codes are still being released, and the ecosystem is still growing.

The builders did not stop, and the road map was not affected.

Those who make quick money are the ones most affected by this wave of pullbacks.
Those who added the least value felt the greatest pain .

This game is not only about long and short, a good investor will spread his risk. To earn income from your coins, provide liquidity and profit from trading volume, or by looking for a clearing robot, many tools can be used to manage one's risk.

However, Coinbase can never be used in such situations.

Screenshot_2021-01-12-11-30-03-237_com.android.chrome.png

We are investigating an issue that affects transactions on http://Coinbase.com and mobile apps. The recently activated transaction records may be delayed to appear in your Coinbase account. There may be some problems when completing some purchases on the platform.

4:14 PM · Jan 11, 2021

The company is expected to conduct an initial public offering (IPO) at a valuation of $67 billion.

Are we seeing market manipulation, or are we completely incompetent?

Whatever it is, for Coinbase's 30 million users, this is a familiar scene.

Kraken also encountered problems.

https://status.kraken.com/

We found a liquidation robot and hope to conduct an interview with it. Unfortunately, the robots refused, but their owners gave us the following replies on the condition that they remain anonymous.


"People use excessive leverage, use excessive loans, and increase their liquidation ratio. They don't want to listen. They think the numbers will keep rising, but they don't pay attention to the fundamentals. Now flash loans are Aave's main business-$1.7 billion Imagine you can take 3 basis points (0.03%), which is 5 million US dollars, cash!!! They ate a lot...
In any case, you have to tell people to be careful, they just won't listen to this, as it never happened in 2017, in the cryptocurrency world, it will take them weeks rather than years to completely forget.
They never learn...
"
"Buy when there's blood in the streets, even if it's your own."

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It makes since to me. Some people wanted to eat if they bought up there they better hold for how long I don't know