Bitcoin Price Liquidation: A Forecast of Downward Trend by Crypto Experts
Bitcoin, the world’s most popular cryptocurrency, has recently experienced a 7% decline in its price. This price drop has had a significant impact on traders, especially those who had short positions, with approximately $1.05 billion at stake if Bitcoin’s price were to revert to its value from the previous day. Consequently, this has led to a ‘Bitcoin price liquidation,’ resulting in losses of $256 million for those traders who held long positions. Despite the ongoing geopolitical turmoil in the Middle East, market analysts perceive this price drop to be relatively average. Benjamin Cowan, a crypto analyst, highlighted on April 13 that the Bitcoin market has already witnessed numerous 20-22% price drops in this cycle, rendering the recent 7% decline rather standard. Therefore, despite the immediate losses, traders and investors are not overly concerned, considering the volatile nature of the Bitcoin market and its history of significant price fluctuations.
Not financial advice. Always be safe and secure when dealing with cryptocurrency. Never send anyone your private key. Always Do Your Own Research..DYOR..DYOR..DYOR!
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