Black day in currency circle: 312
March 12, 2020 is a day that no one in the currency circle can forget. It was full of darkness, liquidation and cool breeze from the rooftop. Investors who have not experienced 312 cannot understand what it feels like. In fact, The real darkness should start on March 7th....
On March 7, Bitcoin just fell from 10,500 to 9,500. A drop of 1,000 dollars was already considered very high under normal market conditions. It was a time when contracts were going crazy. There was no DEFI yet, there were no crazy copycats, and the leverage was even higher. It started at 100 times, and everyone believed that Bitcoin would rebound slightly, and they just wanted to have a small rebound, and stopped buying at 9,500. No one thought that there would be such a terrifying waterfall.
But what we are waiting for is one waterfall after another. Seeing 9200 open long, the red falling K-line gradually hits the ground, and then the risk rate gradually decreases under the blessing of 100 times leverage. Bite your teeth and start increasing your margin.
8500....
8000.....
7500.....
7000....
7000 was on the verge of being liquidated. The bottom line position that everyone could accept at that time was right here. It took two full days. At this time, our investors' psychology was even more tortured. This place was like the final wall of the battle. , once the city is broken, the battle at the 7000 mark is extremely fierce. Long orders are trapped and they are constantly adding positions, while short orders dare not bet again. This psychological war between investors and institutional big dealers will eventually Or retail investors end up with liquidated positions.
"Sorry, your order has reached the liquidation risk rate, and the position still triggers the liquidation operation!" - one minute ago.
A big needle smashes through the screen, heading straight for 5,000, and the order will explode. No matter what direction it is, there are many people who carry orders up to -1000%. Do you want to survive in such extreme market conditions? Impossible, don’t even think about escaping. It’s hundreds of dollars per minute. These few hundred dollars are not as good as today, which is a hundred times leverage. Without adding a margin, the position will be liquidated directly after a fluctuation of about 70 dollars. The positions are more It couldn't be played. The order disappeared in the blink of an eye. All groups were crying and screaming. At that time, each exchange server was full. It took 5 seconds to open an order card, 10 seconds to switch a position card, and 20 seconds to refresh a card. Position ends.
3800, the market ended, and all investors in the currency circle fell into silence. Both old leeks and new leeks were deeply hurt. From the moment I entered 5000, I was silent. Basically, all positions were sold out, with only 700 left. ether.
Fortunately, this did not defeat me. I have persisted in the currency circle until now. Everything has come back. My efforts and persistence have not failed me. I am grateful to the currency circle and will always have tears in my eyes!
