Many people 'burn' their accounts on the day Bitcoin peaked
Predicting that Bitcoin's price would go down, Hoài Phong decided to 'short' on the evening of November 21, but the next morning, he received an email notifying him that his account had 'burned'.
"When Bitcoin reached 94,000 USD each last night, I thought the price couldn't go up anymore so I decided to predict a price drop. But this morning, I received an email notification from the exchange that the order was liquidated when Bitcoin rose above 99,000 USD," Phong (Quang Ngai) said he lost nearly 10,000 USD overnight.