A whale has died today

goodnight, sweet prince

explain pls

S

That literally wasn't even 5% of my stack.

gib investment

A couple short-seller whales got short-squeezed 2600+ BTC (lost all the money they have on their trading account) because bitcoin went up in price. They were betting that bitcoin would go down in price and were trading on margin (borrowed money). And now all their collateral is gone because they bet wrong. Heh

What trading platform is that OP?

Someone was betting BTC was going to crash (closed short) And bet over 5k BTC to do it. (~$62MM)

At least that's how I'm reading it.

I think ultimately crypto-currency is going to go down. But bitcoin and other crypto-currencies have been putting up a valiant fight. There are lots of traders who are "buying the dip" at 11-12k because they think the price is gonna go up back to 19-20k levels.

But is that with or without leverage? i.e. 2600 and 5000 BTC or 26 and 50 BTC with x100 leverage? Never really looked shorting or leverage, and these things are not intuitive.

It’s going way past 20k mate

RIP

If it does I'll be impressed that whoever did managed to pump it that high again, and amazed if anyone fall for it.

this si the beauty of this motherfucking system the small people like me influenced on the system i can tranlate this but "le bajaron de huevos al pendejo!!" hahahaha

I held on to over 8 bitcoins and I have some other alts (mostly a BTC Maximalist) just in case my gut tells me I'm wrong. I cashed out my initial investment at least plus whatever I need for personal expenses. Since I live a NEET hikikomori lifestyle, I don't need to cash out much

If you don't think BTC will ever break 20k you're essentially saying you don't believe in crypto. BTC is still the king. Whether you like BTC or not, no shitcoins are going to moon if BTC is still bearish. GTFO this board.

I assume with leverage, but I don't know what the contracts are. That's why the wavy ~ equal sign is there. Whatever their contracts were are worth that equivalent amount of BTC when it closed. They owe the exchange about $62MM.

Again, not entirely sure because I don't trade on leverage, but thats how I read it.

>I think ultimately crypto-currency is going to go down.
>I live a NEET hikikomori lifestyle

thank you for your astute insights

Shut the fuck up.

>says absolute filth garbage as it it's enlightened fact

Tip your fedora for too please

I think BTC will break 20k eventually. Otherwise I would have sold my coins in December or at least January after it appeared evident that the party was over. But I think 20k BTC might not happen until 2020. I think we're in for a 2 year bear market after the late 2013 correction and Mt. Gox

I believe in crypto, but I'm very ambivalent about Bitcoin. I really didn't believe in it when it was worth cents, and I don't really believe in it any more now. It's not worth what it currently is at. I'm more excited about other projects,

definitely leverage, they were liquidated, would not have done that if they had no leverage

2 years sounds pessimistic but I'd write off 2018 at least until the end of summer

Thanks for the ta, just bought 100k

> What trading platform is that OP?

OKEX futures.

OKEX allows 10x or 20x leverage. In fact you can see that one short was at 10x and one at 20x, by comparing the number of contracts and BTC value.
At 10x 1 contract is $100 worth of BTC and needs $10 collateral. Thus 704K contracts = $70M position = $7M collateral.
Since one position was at 10x and the other at
20x and both had roughly the same BTC value,
so the other collateral was about $3.5M.
In short, the guy just lost $10.5M.

yeah lets compare the market to fucking 2013

jesus christ you people are so fucking stupid fuck i hate you fucking cucks this website has gone to shit