BTC - What could go wrong with 100x Bitcoin leverage?
hive-168689·@jrcornel·
0.000 HBDBTC - What could go wrong with 100x Bitcoin leverage?
https://i.postimg.cc/nVWgC3Zc/Bit-MEX1-678x381.jpg # How about prices crashing to zero, that's what! In a recent article put out this morning, the CEO of crypto derivatives exchange FTX said that had Bitmex not gone offline late Thursday night and early Friday morning, the price of bitcoin may have kept crashing. In fact, he says it could have crashed all the way to zero. At the peak of the crash yesterday, bitcoin was down around $3,800 in the spot markets and XBT on Bitmex was 10% lower than that. Roughly $1 billion worth of long positions has been liquidated on the way down. Right about that time, Bitmex went offline, citing technical issues. What happened to bitcoin during the 40 minutes when Bitmex went offline? That's right, it rallied from $3,800 all the way to $6k. Things that make you go hmm... Stay informed my friends. Image Source: https://coingape.com/bitmexs-bitcoin-futures-24-hr-volume-drop-1-bn-records-lowest-months/ -Doc
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