651 million USD can't cause a price drop that would lead to billions of the global bitcoin market cap disappearing.I forgot about the investigation against Bitmex,thanks for reminding me.
The traders "sold the news" and now,we have the opportunity to buy some cheap btc.
Topic: Is Bitmex to blame for the price crash or is it the darn futures? - page 2. (Read 311 times)
September 25, 2019, 06:50:22 AM
September 25, 2019, 06:37:00 AM
If we read the news today about bitcoin the recent rapid price dropped of bitcoin was due to the sudden occurrences at bitmex. The huge price drop have a negative impact on traders not only on bitmex but throughout the entire bitcoin market. Because of the sudden price drop there is a domino effect since traders have panicked and sold their bitcoins in fear of losing a profit. But though there is a 1000$ price drop in bitcoins value some data in bitmex are not so reliable and it gives us hope that everything is temporary and we will be back soon at 10k$.
September 25, 2019, 05:33:05 AM
It's possible that BitMex aggravated the dump but I never consider at as the trigger.
September 25, 2019, 05:30:01 AM
Here is my opinion; it is both.
ccn.com reported that
I cannot remember when but I saw somewhere that Bitmex was sued by US Commodity Futures Trading Commission (CFTC) some time ago. It is possible that something came out of that investigation. According to Bloomberg, CFTC was investigating Bitmex for allowing USA citizens to trade on there?
I am not a fan of high leverages, but if your citizens want to invest to their heart's content, why not allow it? The mighty government knows best for all of us, which is similar to a helicopter parent choking her children to death. This is old news, but I feel there is a connection there, as people withdraw their money.
Other than that, we just had Bakkt starting their futures trading, and they will be settled in physical bitcoin. People could be selling the news, as suggested in another thread, but it is unlikely to cause so much harm. It could have contributed to the bear market, though.
She is no bear I tell you that much:
ccn.com reported that
Quote
$651 million in BTC was liquidated on BitMEX as the bitcoin price plunged $1,500 in several hours. Most major crypto assets dropped 20 percent.
I cannot remember when but I saw somewhere that Bitmex was sued by US Commodity Futures Trading Commission (CFTC) some time ago. It is possible that something came out of that investigation. According to Bloomberg, CFTC was investigating Bitmex for allowing USA citizens to trade on there?
I am not a fan of high leverages, but if your citizens want to invest to their heart's content, why not allow it? The mighty government knows best for all of us, which is similar to a helicopter parent choking her children to death. This is old news, but I feel there is a connection there, as people withdraw their money.
Other than that, we just had Bakkt starting their futures trading, and they will be settled in physical bitcoin. People could be selling the news, as suggested in another thread, but it is unlikely to cause so much harm. It could have contributed to the bear market, though.
She is no bear I tell you that much:
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