Bitcoin Flash crash: Over $300 million worth of Bitcoin long positions were liquidated
Over $300 million was liquidated from the crypto market in the last 1 hour, which was because Bitcoin had a flash crash which I literally watched happen because i woke up to adjust my stop loss for my Bitcoin short trade that has been running for about one day plus. I'm very happy i benefited from the crash, I made some cool profit and recovered some loss I got from some trades last week, my Bitcoin short position I opened at $44,450.60 closed $40,876 which was way below my take profit at $ 41,200, where my trade closed should show you how fast the bitcoin crash was that it broke through my take profit before it triggered.
Huge liquidation and a fast pullback as of the time I was writing this post. I do not think there was any news that led to the dip or dump. But the truth is some people like me benefited from it and some people lost from it, which is not new in the crypto trading game, someone has to lose for another person to make a profit. But am a bit concerned though because anytime a crash like this happens late on a Sunday l am always worried about the potential Monday morning market open news too. Although I have not seen any yet that caused the crash, there are some online thoughts and opinions that might have caused the dip.
Someone said that the crash was to flush out the overconfident long traders before we go up again. That the crypto market can not allow them all to get the big bag and ride it up in one piece it has to shake some people off. Also, someone else said that he heard that the SEC will reject all Bitcoin ETF applications at once in early January or probably before, I highly doubt the second opinion because the person did not provide any proof.
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good ol’ scam wicks
The crypto trading game truly goes both ways, You either lose or you make profit, When someone is making profit another is incurring a loss. That's just the way it is. Great to know you made a cool profit in the flash crash.
By the way, How the prizes will be distributed on Zealy marketing campaign has been decided, You can still participate to fight for the prices, It is not to late.
Check out the reward distribution post here