In the past 24 hours, 1.04 billion dollars have been liquidated, with the largest order being Long
$BTC for an amount of 18.94 million dollars.
After BTC rose to the level of $104,000 on December 5, it immediately dropped back to the mark of $90,500 early on December 6.
The decrease was approximately 12.98%, and many other Altcoins left wicks of 10-20%.
This means that those who are using leverage Long greater than x10 have received notification emails from the exchange.
The key point in trading is using leverage without stop-loss and buying depreciating assets. Because the natural characteristic of the market is volatility.
Over a long period, one can make a lot of profits, but just one short fluctuation in a small time can lead to total loss.
The euphoric mentality is also a point that causes many losses when BTC reaches the $100k mark, everywhere you see praise for the new ATH. Skimming through 10 articles, more than 50% talk about BTC, boasting profits, asserting correct predictions from before...
This inadvertently pulls many people into the crowd effect and positive emotions... the more joy, the more money lost.
So what is the solution here when the exchange keeps killing LONG/SHORT?
I often share that no matter what you do, you must understand the market deeply and know how to choose assets to keep yourself safe first.
Holding assets does not mean buying at any price indiscriminately, but understanding which areas to invest in and which areas to wait for opportunities to sell.
Also, do not expect too high or feel discouraged when seeing BTC at a "high" price, because many people I talked to about buying Altcoins previously... still have not returned to the shore, while BTC continuously sets new ATHs.
Brothers, let’s not be toxic, this article is based on personal opinion.
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