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Home Markets Cryptos

Crypto investors lose $530 million within a day

Olumide Adesina by Olumide Adesina
January 17, 2021
in Cryptos, Spotlight
94% of Bitcoin investors are making money, Bitcoin, Bitcoin running out of steam
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These are surely bad times for many crypto investors on the account that roughly $530 million worth of Crypto positions disappeared into thin air within a day.

The mass liquidation of such trading positions, according to data retrieved from Bybt.com, showed such occurred before the flagship crypto dipped around $34,000 today.

READ: Betting on Bitcoin is better than investing in PayPal, Google, Facebook, Amazon

bybt

What this means

Over the past day, Bitcoin, with the highest dominance rate in the crypto market gained 7% when it moved from $35,500 to nearly $38,000, taking into consideration future demand for the crypto asset could skyrocket.

  • However high sell-offs gained momentum immediately Bitcoin touched $38,000 value amid several large sell orders placed around that price.
  • The Crypto futures became overheated and record sell-offs began leading traders to lose more than $527 million in 24 hours.

READ: Bitcoin, Cardano, Polkadot, Ethereum suffer heavy losses over proposed regulations

What they are saying

A highly respected crypto expert, Ki-Young Ju, disclosed the ongoing activity in the ever-volatile Crypto market on his Twitter feed, by critically hinting that buying pressure has paused in recent days.

  • “People trade $BTC with low leverage, open interest is skyrocketing, and the long-short ratio looks neutral. Strong on-chain buying signals that have driven this bull market hasn’t come up so far. Bitcoin might retest 30k, so I don’t have any position now in this uncertain market.”

READ: Investor moves $1 billion for $7 fee on Ethereum Blockchain

People trade $BTC with low leverage, open interest is skyrocketing, and the long-short ratio looks neutral.

Strong on-chain buying signals that have driven this bull market hasn't come up so far. $BTC might retest 30k, so I don't have any position now in this uncertain market. pic.twitter.com/aSsA0M4k6r

— Ki Young Ju 주기영 (@ki_young_ju) January 17, 2021

READ: Everything you need to know about Crypto Trading

At the time of drafting this report, Bitcoin’s volatility ensured that no firm market direction was in control, as Bitcoin fluctuated around $34,800.

Sequel to the sudden correction seen in the Bitcoin market lately, it had been in on a bullish run relatively.

READ: Crypto market breaks past $1 trillion for the 1st time in history

Some days ago, leading the United Kingdom’s financial regulator, the Financial Conduct Authority, recently issued a piece of stern advice on crypto investments
The statement highlighted the risks associated with investing in Bitcoin and other leading crypto assets and warned the public there were high chances all their funds could be lost;

“The FCA is aware that some firms are offering investments in crypto assets or lending or investments linked to crypto assets, that promise high returns.
Investing in crypto assets, or investments and lending linked to them generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.”

Related

Tags: BitcoinBusiness NewscryptoCryptocurrencyCryptocurrency News

Comments 2

  1. Lanre Adesanya says:
    January 17, 2021 at 9:46 pm

    This is a zero-sum game;investors are on both sides of trading- what some lose is gained by others. I think it will be more appropriate to balance the story noting the other side of the trade.

    Reply
  2. Enlightner says:
    January 18, 2021 at 6:31 am

    It is no longer a new thing that both Bitcoin and Ethereum is still making alot of people ” stupid rich” 10$ (ten) dollars seven years ago is now worth $7.5 million Bitcoins today. And $100 (hundred dollars) in ethereum has increased to as high as $66,290 in under 2 years! The trend is on a daily worldwide , investors in crypto and digital currencies are getting rich daily. I personally have invested in bitcoin and Ethereum and I have collected bigger gains investing these coin than anything else in my life. for example I bought bitcoin twice, last year and early this year , 10 coin $83.40. And 20 more at $128. today my 20 coins trade nearly than 24 times higher. And I also bought Etherium last November at $9.70 before it rocket to $355! I was up over 3,500%. But here is the thing nobody is talking about, bitcoin and ethereum aren’t the real success stories anymore, it is the smaller and unpopular digital currencies that are rewarding investors with the next round of huge wins. for example, I recently obtained 27,000 coins in a tiny digital currency just 80.5 cents per coin. does coins now trade around $4, each 1,981% higher and I invested in another one that jumped from one point $1.50 to $10.71 . Yet this opportunity is just getting started, today I will show you New digital currency that can turn as little as $10 into over $1million in the blink of an eye, yes that’s right . A single crispy of $10 can make you a millionaire. Now for the doubters, not only is it possible, it actually happening right now, a considerable number of investors worldwide have seen have seen gain of 75,063% in cryptonite, 59, 577% in influxcoin , 60,450% in Max coin and even 823,750% in Dubaicoin . Bitcoin is offering profit bigger than your expectation and much quickly. I have personally made 600% in Bitcoin. I will stop here so that I don’t bore you guys but it is sure worth your time. In case you’re interested in investing in bitcoin,feel free to message me +1 (812) 567-5121. I can help you earn 5 BTC in 2 weeks. Take advantage of opportunity.

    Reply

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