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Author Topic: Bitmex Sees $500 Million Bitcoin Short Liquidation in 24hrs  (Read 199 times)

jgilpulg

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The value of BTC rose to almost USD 14,000, causing short traders to liquidate over half a billion dollars in a single day.

https://bitcoinist.com/bitmex-500-million-in-bitcoin-shorts-liquidated-in-24hrs/


kagsjazz

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Re: Bitmex Sees $500 Million Bitcoin Short Liquidation in 24hrs
« Reply #1 on: June 30, 2019, 12:20:25 PM »
Not to mention Bitmex servers couldn't handle the pressure during the bitcoin flash crash a few days ago (26th June).

Can read more about it here: https://cryptodaily.co.uk/2019/06/bitcoin-flash-crash-takes-down-coinbase-while-primexbt-breaks-volume-record.

For so long Bitmex has had problems with executing orders accurately, causing its traders to lose money.  There’s now a much better alternative for margin traders since PrimeXBT (primexbt.com) struck up early in Feb this year.  Just the same as Bitmex, you can use up to 100x leverage, however not only on BTC trades but also on ETH, EOS, LTC, XRP.

While Coinbase, Binance, Bitfinex, Deribit, and other major crypto exchanges were out of action during the $2000 bitcoin collapse, traders couldn’t access their accounts and missed out on the opportunity to capitalize on the massive price swings.

At the same time as this, PrimeXBT broke its trading volume record, surpassing $1 billion in 24-hours for the first time. The other exchange’s misfortune turned out to be an opportunity for PrimeXBT to prove it is a formidable player with incredibly sound technological infrastructure.

Loads of people have taken to twitter comparing the reliability of Bitmex and PrimeXBT, praising the newcomer for executing orders and performing as it should. It seems as though Bitmex's reign as the leading margin trading platform is over!

Obiwankenodium

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Re: Bitmex Sees $500 Million Bitcoin Short Liquidation in 24hrs
« Reply #2 on: June 30, 2019, 04:01:33 PM »
There werexa lot of long liquididations on the way up from the 4000 dollar mark. simply because a lot of people are taking way too much Risk by using a way too high leverage.
         
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Ghanda

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Re: Bitmex Sees $500 Million Bitcoin Short Liquidation in 24hrs
« Reply #4 on: July 02, 2019, 05:20:05 AM »
Please read it carefully and seriusly, you will get more knowledge and good information to know about cryptocurrency world. https://cryptodaily.co.uk/2019/06/bitcoin-flash-crash-takes-down-coinbase-while-primexbt-breaks-volume-record
Thank you so much.

 

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