Speaking of crypto, the Etherium ETF had me interested today in that I was eager to buy back some shares I sold about a week ago when it had a precipitous dip, but had quickly rebounded.
I had my chance after hours to get my shares back as it dipped to as low as 10% down on the day.
I put in a limit order but backed out before it placed. figuring that this market is a bit too crazy and I need to be more in cash at this stage of the game.
Please be gentle. Losing a good portion of this years gains is personally devastating. This is not what I wanted to be remembered for. And it won't be. I've never been liquidated before. But I've never traded through ETH flash crashing over $1,000 in a short amount of time…
Look at the Etherirum chart - it is back to where it was 2 months ago. Yes, it happened relatively fast, but it only erased 2 months of appreciation.
What kind of position gets wiped off by retreating just that short a duration of appreciation?
Even at todays staggering loss, it is still more than double what it was just 6 months ago.
If traders are getting liquidated, they must have built their position just very recently and they must have been enormously leveraged. And it's hard to believe that too many would be in that boat (so late to the game).
Look at the Etherirum chart - it is back to where it was 2 months ago. Yes, it happened relatively fast, but it only erased 2 months of appreciation.
What kind of position gets wiped off by retreating just that short a duration of appreciation?
Even at todays staggering loss, it is still more than double what it was just 6 months ago.
If traders are getting liquidated, they must have built their position just very recently and they must have been enormously leveraged. And it's hard to believe that too many would be in that boat (so late to the game).
just seeing this now but it has since rebounded and is about flat over the last 24 hours. I still have a position in the ETF but not enough to be concerned about.
I have echoed similar thoughts. The market will bounce back strong this week. But what after? There is a sickness in American society that can’t easily be cured.
Hard to not feel bad reading stuff like this. But as a country, we've also convinced ppl they're better off gambling than putting in hard work, which is "not great", to put it mildly. pic.twitter.com/bVtPmTrsgQ
"Panics do not destroy capital; they merely reveal the extent to which it has been destroyed by its betrayal into hopelessly unproductive works." – John Mills, "On Credit Cycles and the Origin of Commercial Panics," 1867
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