🚀💥 A terrifying night in the cryptocurrency world: a crash and rebirth remembered in history 💥🚀
🌙 Sleepless night before romance 🌙
On May 20, the eve of a day that should have been full of love, a thrilling drama took place in the cryptocurrency world. At 1 a.m., a QQ group with 1,826 members was still brightly lit, with thousands of people online, witnessing the ups and downs of wealth and the changes of stories every second. 💬💸
📉 Leverage liquidation, heavy debts 📉
Some people were liquidated overnight due to 75 times leverage, with debts of up to 500,000, and they went from being dreamers to debtors; some people just switched from the stock market to the cryptocurrency circle, and after tasting the sweetness, they suffered a "bloodbath" and fell into the quagmire; some big Vs in the cryptocurrency circle took the opportunity to "cut leeks" and released predictions to attract traffic, while small investors watched in this storm, and although the losses were small, they were still frightened. 😢💰
📊 Plunge frenzy, virtual currency avalanche 📊
Since the early morning of May 19, virtual currencies such as Bitcoin and Ethereum have begun their free fall. Bitcoin once fell below the $40,000 mark, and in the evening it fell to $31,100, almost "cut in half". Ethereum, Binance Coin, Dogecoin, etc. were also not spared, with declines exceeding double digits. 📉💸
Trading platforms were not immune, with withdrawals suspended or downtime at Binance, Coinbase, Kraken, etc. The liquidation volume hit a record high, with long liquidations reaching 10,525 BTC within an hour, and the market was in a mess. 💥💻
🔄 A rebound is beginning to appear, but the storm is not over yet 🔄
On May 20, Bitcoin saw a glimmer of hope, rising slightly by 1.4% to nearly $40,000. However, other virtual currencies are still mired in the quagmire, with their declines not slowing down. This plunge has made countless investors sigh: "This night will be forever engraved in the history of the cryptocurrency world." 📈😔
💸 The double-edged sword of leverage: getting rich overnight and going into debt overnight 💸
The leverage effect of contract trading amplifies the risk. Some people became rich overnight due to high leverage, while others were heavily in debt. Some people switched from the stock market to the cryptocurrency circle, hoping to turn things around, but ended up with a debt of 580,000 yuan; and the "veterans" were also not spared and lost millions. 😢💸
📈 A feast for short sellers and an opportunity for bottom pickers 📈
In this crash, short sellers had a feast. Some people made more than 80% profit by short selling, and big names in the cryptocurrency circle like Justin Sun also took the opportunity to buy the bottom and bought a large amount of Bitcoin and Ethereum. But the road to buying the bottom is not smooth, and more investors are still wandering in wait-and-see and fear. 🤑🛍️
🤔 The mystery of the cryptocurrency avalanche 🤔
Why did the cryptocurrency market suddenly "collapse"? The tightening of regulatory policies, Musk's remarks, and the market's own profit-taking demand have jointly created this storm. But in the long run, the development of blockchain technology and decentralized concepts is still optimistic, and the bull market may only be temporarily under pressure. 📉📈
🔍 Future Outlook: The end of the bull market or a new beginning? 🔍
Although the market is under pressure in the short term, senior investors are still optimistic about the market outlook. They believe that the transformation of new technologies and new production relations will not stagnate due to short-term fluctuations, and the long-term bull market is still worth looking forward to. However, for investors, it is key to remain rational and operate cautiously. 🚀🤝
This terrifying night in the cryptocurrency world is not only a baptism of wealth, but also a test of investors' mentality and wisdom. In the days to come, I hope we can all learn lessons from it and move forward more steadily. 💪🌟#杰克逊霍尔年会 #新币挖矿DOGS #美联储何时降息？
