Before the arrival of #牛市 , all leveraged contracts were violently liquidated
Before the bull market of 2021, 100% of long positions were cleared through 312, meaning that on the day of 312, all those who went long were 100% liquidated. Even most of those who shorted, seeing the drop was just too much, tried to catch the bottom and ended up being liquidated.
All that remained were the short sellers, professional shorters who never went long. These people were eventually taken away by the infinite surge after 312.
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The bull market of 2017 was even more so. At that time, almost the entire cryptocurrency market was invested by Chinese people. As a result, after the 94 incident, not only were there liquidations, but all domestic exchanges were also relocated. Spot traders had all liquidated their positions, and after selling out their chips, there was nowhere left to buy.
As a result, two months after 94, Bitcoin and many altcoins skyrocketed, with Bitcoin directly rising to nearly $20,000.
Summary: The harsher the liquidation, the stronger the subsequent rise.
Veteran contract traders have countless stories, but only a few can be shared.
The NPC's advice is: don’t touch contracts, hold onto your spot positions, and just watch the show.
