The collapse of bears: the rapid growth of Bitcoin has led to a new wave of liquidation of short positions

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2019-05-29 20:00:08

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The collapse of bears: the rapid growth of Bitcoin has led to a new wave of liquidation of short positions Source:

On the Eve of the cryptocurrency has set a new record price this year. almost got to level 9000 dollars, breaking the important area of 8500 dollars. The bears once again came under attack — most of the short positions in the trading pair BTC/USD was liquidated.

Rapid pump cryptocurrency brought the market out of balance, and its market capitalization has reached 272 billion. The trading volume of Bitcoin also hit records. In this regard, while traders have no reason to assume that a major correction could happen tomorrow.

the

Why to short bad

Don't let impulsive behavior to lead you into a trap, Bitcoin is already in a uptrend, so bearish is now very dangerous. Some became convinced of the simple truth «on their skin». Over the past few days the total amount of liquidated short positions reached 131,4 million dollars. And that's just on the exchange BitMEX.

Source: AMBCrypto

User Reddit under the nickname Panda said the incident deserved lesson for beginners who do not deign to examine even the basic rules of functioning of the market.

Before the invention of cryptocurrency among ordinary investors was not such an easy way to trade with leverage. Now, all Nuba suffer a severe defeat in trading. This is a Prime example of how «psychology of the trader».

And all to have a care about opening long positions on Bitcoin . Even according to conservative estimates, the cryptocurrency has brought much more profits than traditional stock market assets.

See also:

This bull market is just beginning, BTC has more potential for growth in the long term.

To avoid becoming one of the victims of liquidation on the stock exchange, sign up for our . Also don't forget to visit the pool .

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