Over $2 billion has been liquidated, and this is the largest liquidation event in the history of the crypto market to date. If you feel too frustrated, bitter, or want to shout, just comment here so I can look back at it in a few months.😁
OK, let's get to work. Yesterday, the 1INCH fund accumulated $ETH around the $3k range and is currently at a loss. A few other funds I follow that have been accumulating for a while are also definitely at a loss. For example, Longling borrowed BTC and ETH to buy with USDT and is currently down 25% (the fund's assets are over $100 million) and is showing signs of borrowing more to buy further. Some ancient sperm whales have also shown no signs of selling, and many whales are currently facing losses from a few thousand to tens of thousands of dollars.
Looking at those assets hitting the bottom, breaking the bottom, you need to understand one thing: Anyone who bought assets at any time before the current moment is currently at a loss, whether they are whales or market makers. The assets held by market makers are also down significantly, and in a panic phase like this, they definitely can't sell much due to weak liquidity. Retailers are also collectively selling off => this is the time for them to accumulate, not to sell.
Currently, the more people say that cryptocurrencies are a scam, downtrend, no uptrend,... the better. This scene has happened in previous cycles that I have experienced. At that time, many people thought this market would die, $BTC and alts would go to 0,... but the results afterwards are clear to everyone. In summary, those who are afraid should leave.
Investing in this market, everyone hopes to x5 x10 xxx their account to change their financial position once, but the price to pay is something few can bear. The pinned post on my channel has clearly stated: capital, position, goals, and risk tolerance vary for each person, so if you feel this market is too risky, it’s best to exit because not everyone is suited for crypto.
My plan prepared for this scenario is to borrow on margin to buy an additional 20% of assets, splitting the current price into 5. Newbies should definitely not use margin. Since I will be depositing money monthly to repay, I won't get liquidated. If the market rallies, I will have a relatively good entry, and when I start making a profit, I will hold & gradually repay the margin. If the market continues to stay flat at the bottom for a few months, I will DCA more until it rises. Anyone with significant & stable cash flow who gets through this phase will win big. 👍
You can follow my updates on the market & early signals at tradecoinsignalsvn.