[vc_row][vc_column][vc_paragraph text=”Massive liquidation of over $1.3 billion of crypto products on exchanges has led to the Bitcoin price decline to $8600 just two days after exceeding $10k.“][/vc_column][/vc_row][vc_row][vc_column][vc_heading title=”Liquidation of the excessive leverage caused crypto prices decline ” size=”medium”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The current downward tendency has also spread on the altcoins’ market. All of the top-10 altcoins are falling: Bitcoin Cash (BCH), Litecoin (LTC) and EOS have suffered most. According to Datamish, a platform that tracks long and short BTC positions on Bitfinex, over 950 long BTC positions were liquidated last Sunday. Actually, closing of the above-mentioned positions indicates the rapid decline with excessive leverage on several platforms.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”The reason for such a massive liquidation may be the anticipation of a sharp Bitcoin increase that would make traders place long positions with excessive leverage.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”This enthusiasm was supported by the recent rise over $10 000. Nevertheless, the crypto rating suddenly changed and this surprised traders.”][/vc_column][/vc_row][vc_row][vc_column][vc_paragraph text=”In the background of current losses the technical director of Bitfinex Paili Ardoino wrote on his Twitter, “The leverage comprises 5x at most. So when a liquidation occurs the real value is being reduced”.”][/vc_column][/vc_row]
