Don’t trade on leverage
The dump of Bitcoin yesterday after the news of the Iran attacks on Israel, has erased 500 million USD of long positions. A whopping 162000 accounts got liquidated. A lot of people were in a long position with uptober starting and the positive news about the cutting of interest rates. But they got literally whiped out!
This once again shows that leveraged trading is a very bad idea if you don’t know what you’re doing. Leveraged trading, futures, turbos, etc… all require good bank roll management. And apparently loads of people don’t have that discipline. With this devestating result.
https://img.inleo.io/DQmUmMZ2cf2HLSbnjKDjotg9nUxornNvZHE3bXURkJiiZxb/IMG_9916.webp
Up from 60000 USD
Bitcoin went down to 60000 and jumped back up quite quickly to nearly 62000 again. But the funds of those accounts are whiped out forever, which is very sad.
Bitcoin ETF’s saw a huge outflow of over 200 million dollars in one day. A severe overreaction by the markets in my opinion and it gives us all an amazing opportunity to buy cheaper again. Bitcoin and other crypto, the gift that keeps on giving, especially for those that are using DCA as a tactic!
Don’t take risks you can’t bear, just stacking is and will be profitable enough…
Sincerely,
Pele23
Posted Using InLeo Alpha
