Tragedy: in a Tragic Occurrence right when Bitcoin is running up to a probable 60k soon, multiple Bitcoin investors who were leveraged but still Bitcoin holders losrt all their Bitcoin when 18 million dollars worth of Bitcoin was liquidated as the price volatility associated with the SEC Tweet and Tweet Retraction Debacle caused their leverage bet holders to liquidate their Bitcoin to pay off their leveraged position.
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In some ways my heart goes out to them, but also my mind wonders why?
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Take Home Lesson
- Our world is more troubled then ever, war, famine, death, but you don't have to fall prey to the evils which abound. You can do your best to avoid them by watching your P's and Q's as my dad would say.
- Draw inside the lines, Play in the yard, don't poke the tiger, don't swim with sharks, play it safe.
- In this life we can play risky, dangerous games...
- Or we can play it safe...
- The choice is always ours..
- We are all Free Agents in the Game of Life
- We get to choose safety or risk
- But if we choose risky we are entittled to the rewards and punishment.
- RIght now Bitcoin shorts are paying the price as 18 million in Bitcoin shorts are liquidated. These people bought Bitcoin with leverage andthis SEC False Announcement caused many to lose everything.
- How tragic is that? Bitcoin is blasting off towards 50k and these people have lost it all.
- I feel sad for the people who depended on them, but them...not so much..
- At this point leverage with Bitcoin mooning may sound like a safe bet, but history tells us that leverage and bitcoin don't mix...
- Volatility is so closely associated with Bitcoin that they are almost synonyms
_ But I think the only good to come out of these liquidated short positions is a hard Take Home Lesson... don't short bitcoin in a bull run and don't leverage bitcoin in a bull run. It's counter intuitive at first to to think of this as dangerous, but bitcoin is just to volatile, wiping out 25% of it's market cap in a day and regaining 30% the next..
I stand here..sitting actually...amazed that people lost hundreds of bitcoin...small fortunes to some, fractions of their net worth for others... but still millions lost.. How many peoples lives would be made near perfect by just one Bitcoin?
Play stupid games, win stupid prizes, cry stupid tears...
