The Decline Is Still On, But Traders Keep CalmNov 19, 2019
Yesterday, the market experienced another stress and lost more than $10 bln in one night. Reducing capitalization to $205 – $210 bln levels will not surprise anyone, but at the same time, many market participants have suffered from yesterday’s leaps. So, for example, on the Bitmex exchange there were liquidated positions on $2.3 mln. The amount isn’t sufficient, but any losses lead to market disappointment.
In a recent market analysis, we talked about a possible fall to $210 – 215 bln lvls. It is likely that the market should go into consolidation from these positions, with the subsequent resumption of the indicator’s growth.
Note, that the long positions’ number continues to grow, regardless of the sagging market. This all suggests that players are prepared to suffer short-term losses in the hope of selling their digital assets well above current prices.