logo logo
CCN 2019-05-27 14:27:24

A $130 Million Shorts Liquidation May Have Supercharged Bitcoin Price to $9,000

By CCN: On May 27, the bitcoin price surged from $8,000 to $8,939 on major exchanges such as Bitstamp and Coinbase, achieving a new high for 2019. Key catalysts behind the abrupt increase in the bitcoin price within a short time frame remain unclear; some have suggested the overall improvement in sentiment around the crypto market and an increase in demand from retail investors. One of the main factors supporting the 11 percent rally of bitcoin may have been the liquidation of hundreds of millions of dollars worth of short contracts on BitMEX, the most widely utilized crypto margin trading The post A $130 Million Shorts Liquidation May Have Supercharged Bitcoin Price to $9,000 appeared first on CCN

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer