Bitcoin Debacle, Into the Crypto Abyss?
Bitcoin crashes down through support and many investors get REKT.
Yesterday BTC crashed down to around the $7450 US mark and has been holding steady there for the last 24 hrs.
Bitmex leverage trading had $150 million worth of Long's liquidated. This is yet another example of when going with the herd on BTC can get you REKT.
So many times in the past BTC has had an overwhelming % of investers speculating on the price moving in one direction as apposed to the other direction and the market moved against the majority. This is a lesson in itself, if you do not even know how to trade and you hear that "everyone" is Long on BTC , then you should at least consider the possibility that the market will tank , and vice versa, if you hear that "everyone" is short on BTC then you should consider the market may moon (go to the moon).
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