Cascading Liquidations Send Bitcoin Below $18,000

Source: https://www.zerohedge.com/markets/cascading-liquidations-send-bitcoin-below-18000-daisy-chained-margin-call-contagion-sparks
Published: Jun 18, 2022
Author: Tyler Durden
Post Date: 2022-06-18 20:07:45 by Horse
Views: 630

As Daisy-Chained Margin Call Contagion Sparks Record Selling

“What we’re seeing is more liquidations driving prices and sentiment lower, which triggers more liquidations and negative sentiment - some flushing-out needed still, but this will at some stage exhaust itself"

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#1: StraitGate    To: Horse, Pinguinite (#0)

I bought (my first buy!) at the All Time High. It's easy to hold now when it's worth almost nothing.

StraitGate posted on 2022-06-18 22:13:39   Reply   Private Reply

#2: Dakmar    To: StraitGate (#1)

Buy high, sell low, snuggle up to power players to get a tax write-off. The classic American get-rich drama.

Dakmar posted on 2022-06-18 22:34:20   Reply   Private Reply

#3: Pinguinite    To: StraitGate (#1)

It's easy to hold now when it's worth almost nothing.

What I say is it's also easy to buy even more at this fire sale price and make the average buy price for you much lower than before. The general finance markets are screwy right now. Inflation is raging and financial instruments are *dropping* in price? That makes sense for stocks as companies will have a harder time making money in an inflationary environment, but not for commodities including Bitcoin that are not tied to any business enterprise or any political state. It's a very good buy time now.

Pinguinite posted on 2022-06-19 01:42:02   Reply   Private Reply

#4: Esso    To: Pinguinite, 4um (#3)

You think it's a good buy now or what?

Esso posted on 2022-06-19 01:56:11   Reply   Private Reply

#5: Dakmar    To: Pinguinite (#3)

I usually buy during dips, but don't expect 95% of these companies to last through December. Dollars won't be worth much either, but a few pennies buys more food than no pennies.

Dakmar posted on 2022-06-19 01:57:27   Reply   Private Reply

#6: Pinguinite    To: Esso (#4)

You think it's a good buy now or what?

Good? I say yes. Is it the best? That's uncertain as the floor is unknown. But in order to set a new % record as a Bitcoin price crash from an all time high, it would need to go below $10,000. The record setter was when it went from about $1000 to the mid $100's.

Waiting for price to bounce up defines a first floor. Waiting for it to bounce a second time, then rebound higher than after the first bounce, and you got a good entry point. If you want to get in at rock bottom price, that's always a harder call.

Pinguinite posted on 2022-06-19 02:31:57   Reply   Private Reply

#7: Esso    To: Pinguinite (#6)

Gear up kiddo...

Esso posted on 2022-06-19 03:46:23   Reply   Private Reply

#8: BTP Holdings    To: Esso (#4)

You think it's a good buy now or what?

Elon Musk got people to buy into Dogecoin and then it went in the cellar.

Not sure who won on that one. ;)

BTP Holdings posted on 2022-06-19 09:03:27   Reply   Private Reply

#9: StraitGate    To: Pinguinite (#3)

As always, thanks for your intelligent and informed advice on this.

I bought at the ATH, then bought the same amount again after it had dropped about 25%.

Might buy some more Monday or Tuesday.

StraitGate posted on 2022-06-19 11:21:05   Reply   Private Reply