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Showing posts with the label Cryptocurrency

RESEARCH: Take a look at what happened in crypto last month

Bitcoin history doesn’t repeat, but it often rhymes. And even by crypto’s volatile standards, May was an eventful month. Even by crypto’s volatile standards, May was a pretty rocky month. So with bitcoin currently down ~40% from its high earlier this year where do we go from here? Last week Blockchain.com Chief Strategy Officer and Head of Markets Charlie McGarraugh , who accurately called the May sell-off, presented his case on blockchain.com podcast that the 2020–21 crypto bull market is still intact. On Tuesday during blockchain.com monthly live event Head of Research Dr Garrick Hileman also issued a recommendation to medium-to longer-term hodl’ers (18-month and beyond timeframe) that current price levels are looking attractive for accumulating bitcoin (BTC). Bottom-line: blockchain.com long-term confidence in the transformative and disruptive nature of blockchain technology and decentralized finance remains unshaken. And for anyone who missed bitcoin’s runup to $64k we believe

$7.6 billion in crypto long positions liquidated in one hour as bitcoin plunges to $52,000

  $7.6 billion in crypto long positions have been liquidated over the past hour as bitcoin's price plunged to $52,000, data from bybt.com shows. Bitcoin's price began to trend downwards early Saturday, but the steep plunge began around 3:00 UTC on Sunday.  Bitcoin's price dropped by more than 10% over the past hour, from $58,000 to below $52,000, during which around $4.3 billion in bitcoin long positions were liquidated. As of the time of writing, bitcoin's price has bounced back to around $55,000. Overall, $9.2 billion in crypto long positions have been liquidated in the last 24 hours.  At a situation like this using leverage is very dangerous game. Many traders are irresponsible and are buying bitcoins with money hoping to sell it in short term and bank the difference, which result to over a million traders liquidated on a $10,000 drop. As time goes on bitcoin will bounce back and go long massively on it own time just HODL-low risk high reward strategy. Kindly drop yo

Bloody Sunday: Over 1 million investors liquidated, altcoins crash by 20%

  It's a Sunday and yet another great dip in the crypto market. The flagship altcoin is under high liquidating pressure with Ethereum trading at $985 at the time of writing this report, down - 12.40% for the day. It is the biggest daily dip since March 12, 2020 as recorded. A significant number of investors in the crypto market have had their accounts liquidated amid the sudden drop seen in a number of altcoin assets. The flagship altcoin is under high selling pressure with Ethereum trading at $1,952 at the time of writing this report, down 21.46% for the day. It is the biggest daily drop since March 12, 2020. For the day, about 1,018,638 investors had their account worth about $10 billion liquidated. The largest single liquidation order happened on Binance-BTC valued at $68.73 million. Such a fall pushed Ethereum’s market value to $247.15 billion, or 12.16% of the total cryptocurrency market value. At its highest, Ethereum’s market value was close to $300 billion. On the altcoins