Someone lost today 128 millions longing in wrong moment
Today we had a massive dump in Bitcoin and all crypto. There are two base reasons for that - MtGox trustee selling BTC on the markets without looking on price.
And other bad news happened today there was some FUD saying UpBit (one of the biggest volume exchanges) is having problems with liquidity. Currently after verification, it just seems Gov in KR didn't understand how sharing books work (UpBit shares some books with Bittrex).
But im sure you came here to learn about the biggest loss in crypto noted so far in single trade.
Someone bet that EOS is going to raise with 12.8 million contract which is 128 millions USD and due to the dumps on everything.. got liquidated. It happened on Okex. Before that i think BitMex had the record liquidation.
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I predicted this dump 10 hours before it happened. The count was obvious and of course they found some bullshit news to be responsible. News will always arrive to justify the count.
These events @kingscrown are good for many people in the other side of the market spectrum, they eat blood in the streets and they will rule the world soon.
It was just a bloody morning and a quiet sad one . My folder is crying but I’m sure others are in a worse spot . All we can do is hang on tight
These huge drops are still normal at Crypto world but there will be less and less down the road. Market still react on any small negative news...
We need to see much higher market cap before we reduce volatility.
Why do you think there will be less huge price drops in the future?
Even now BTC has less huge drops than before and we are in early market stage...
How do you know there are now less huge drops?
Is there some kind of volatility index for BTC?
https://www.buybitcoinworldwide.com/volatility-index/
Thanks!
You are right, volatility is a bit low nowadays. However, did you compare it to some other currencies?
I think there is really a long way to go to decrease the volatility to such a level that BTC might become really mainstream.
wow
ouuuuuuuch! 128,000,000!! For God's sake who makes bets like that?
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Oops. That’s going to hurt! Although it could be institutional money, in which case it’s a drop in the ocean.
HOLY POOP that is a massive loss.
How much steem you wanna bet it was a loss of OPM(other people's money)?
Seems like someone had a really bad day o:
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Holy shit! What the hell were they thinking? There has to be a reason someone would choose to put that much up at once. It is always a gamble and that one was a seriously unlucky bet!