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Re: Bitcoin clears 20k
[Re: white17]
#7192355
02/22/21 01:45 PM
02/22/21 01:45 PM
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Joined: May 2010
Posts: 11,042
MN
Steven 49er
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trapper
Joined: May 2010
Posts: 11,042
MN
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I agree Steven. It still could and with good reason IMO.
So you view it as a hedge against the dollar ? I can see that but I think there are better hedges with much less volatility. A little volatility today lol. There is only one true hedge against the dollar. My biggest gear in cryptos is governments and central banks.
"Gold is money, everything else is just credit" JP Morgan
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Re: Bitcoin clears 20k
[Re: white17]
#7192414
02/22/21 03:05 PM
02/22/21 03:05 PM
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Joined: Dec 2006
Posts: 18,843
Rodney,Ohio
SNIPERBBB
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 18,843
Rodney,Ohio
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LOL Yeah just a bit of vol !!
Yep I think the biggest liability is political Can't help but wonder how much Elon's statement affected this cryptos overall are down 9% over 24hrs
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7192423
02/22/21 03:23 PM
02/22/21 03:23 PM
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Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy
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trapper
Joined: Jul 2016
Posts: 296
NE Wisconsin
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LOL Yeah just a bit of vol !!
Yep I think the biggest liability is political Can't help but wonder how much Elon's statement affected this cryptos overall are down 9% over 24hrs 0% The media has a horrible need to ascribe reason for market movements.
Last edited by DecoyMacoy; 02/22/21 03:25 PM.
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7192433
02/22/21 03:34 PM
02/22/21 03:34 PM
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Joined: Dec 2006
Posts: 18,843
Rodney,Ohio
SNIPERBBB
OP
trapper
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OP
trapper
Joined: Dec 2006
Posts: 18,843
Rodney,Ohio
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Been looking for articles all day and finally this pops up... Bitcoin falls below $54,000 as derivatives positions worth over $1 billion are liquidated
by Yogita Khatri
February 22, 2021, 7:55AM EST · 1 min read
The price of bitcoin has fallen below $54,000 from nearly $58,500 on Sunday as derivatives positions worth more than $1 billion get force liquidated by crypto exchanges.
About $1.50 billion worth of open interest was liquidated by crypto exchanges in the last 24 hours, according to tracker Bybt.com. In other words, crypto exchanges liquidated traders' overleveraged positions.
Traders overleverage, or trade on margin, thinking that bitcoin's price would go up and they would benefit more. But when bitcoin's price goes below the liquidation price of their positions, exchanges force liquidate or close their positions because traders cannot fulfill margin requirements of their leveraged positions.
"In the past weeks, a lot of accumulation on the long side happened, so traders should expect such correction events," Bitfinex CTO Paolo Ardoino told The Block, adding that such corrections are "normal."
Most of the liquidations occurred on Binance, followed by Huobi and Bybit. While in terms of crypto assets, bitcoin positions formed most liquidations, followed by ether (ETH) and XRP.
Bitcoin is currently trading at around $53,400, according to tracker TradingView. Meanwhile, ETH is trading at about $1,775.
t
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Re: Bitcoin clears 20k
[Re: SNIPERBBB]
#7192448
02/22/21 03:50 PM
02/22/21 03:50 PM
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Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy
trapper
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trapper
Joined: Jul 2016
Posts: 296
NE Wisconsin
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Been looking for articles all day and finally this pops up... Bitcoin falls below $54,000 as derivatives positions worth over $1 billion are liquidated
by Yogita Khatri
February 22, 2021, 7:55AM EST · 1 min read
The price of bitcoin has fallen below $54,000 from nearly $58,500 on Sunday as derivatives positions worth more than $1 billion get force liquidated by crypto exchanges.
About $1.50 billion worth of open interest was liquidated by crypto exchanges in the last 24 hours, according to tracker Bybt.com. In other words, crypto exchanges liquidated traders' overleveraged positions.
Traders overleverage, or trade on margin, thinking that bitcoin's price would go up and they would benefit more. But when bitcoin's price goes below the liquidation price of their positions, exchanges force liquidate or close their positions because traders cannot fulfill margin requirements of their leveraged positions.
"In the past weeks, a lot of accumulation on the long side happened, so traders should expect such correction events," Bitfinex CTO Paolo Ardoino told The Block, adding that such corrections are "normal."
Most of the liquidations occurred on Binance, followed by Huobi and Bybit. While in terms of crypto assets, bitcoin positions formed most liquidations, followed by ether (ETH) and XRP.
Bitcoin is currently trading at around $53,400, according to tracker TradingView. Meanwhile, ETH is trading at about $1,775.
t
This is why the "crypto" narrative gets pushed so much. The exchanges, VC's, shatcoin insiders, etc want clueless retail "traders" swapping 100 useless tokens, with leverage so they can reap max profit. 99.99% of people have no business trading. Very few VC's and insiders profit from the super simple and time proven "dollar cost average buys of bitcoin only and hold your own keys" - Yet nothing in the "crypto" (cringe) space has been (or will be IMO) better than this strategy.
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Re: Bitcoin clears 20k
[Re: M.S. Pickins]
#7192756
02/22/21 08:28 PM
02/22/21 08:28 PM
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Joined: Jul 2016
Posts: 296
NE Wisconsin
DecoyMacoy
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trapper
Joined: Jul 2016
Posts: 296
NE Wisconsin
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If any of you think the stock market is any different your kidding yourself. Right. Imagine how silly our monetary system is that it requires us to prop up mega-corperations that hate our lifestyles and politics in order to preserve our wealth.
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Re: Bitcoin clears 20k
[Re: DecoyMacoy]
#7192805
02/22/21 09:03 PM
02/22/21 09:03 PM
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Joined: Nov 2011
Posts: 948
Pennsylvania, 1B
PaRay
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trapper
Joined: Nov 2011
Posts: 948
Pennsylvania, 1B
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Watch and see, XRP and XLM is going to create a bunch of millionaires in the coming years
Last edited by PaRay; 02/22/21 09:04 PM.
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Re: Bitcoin clears 20k
[Re: PaRay]
#7193522
02/23/21 03:21 PM
02/23/21 03:21 PM
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Joined: Jan 2018
Posts: 154
West Virginia
Choo
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trapper
Joined: Jan 2018
Posts: 154
West Virginia
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Watch and see, XRP and XLM is going to create a bunch of millionaires in the coming years Well i hope it goes up, I bought a little XLM at .45 and a few more at .55. think ill buy a little while its in the 30's just so i can make up my loss. Maybe one day it will be worth a couple bucks a piece. I figure it wont hurt to gamble a couple hundred bucks. wish i had some when it was a couple cents a share.
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