Crypto Liquidations Hit $238 Million and Bitcoin Jumps 10%, What’s It Mean for You?
We’ve been having a lot of wild news out of the crypto world lately. It’s all been quite confusing to the casual observer but, never fear! We at Crypto Buzz are here to help provide some humor, insight and education on it all.
What’s Going On?
Crypto liquidations hit $238 million in just one day as the price of BTC jumped 10%. This is a huge increase from the daily average liquidations, which is typically closer to $50-60 million. What this means is that investors who had large positions in crypto are being forced to sell off some of their holdings to make back some of their losses.
What Does It Mean For You?
It’s good news for those of us who are smaller-scale investors and like to speculate with our crypto holdings. The increased liquidations mean more coins are entering the market and driving down their prices. This means that everyday-investors are getting the opportunity to pick up great bargains at low prices and capitalize on the current market volatility.
Things To Be Awa re Of
When investing in any financial instrument, it’s important that you understand the risks and rewards associated with them. Despite being a great opportunity to get some good deals, the volatility of the market means that things can change rapidly. Take the time to educate yourself, read about the market and only invest what you can afford to lose.
- Tips For The Crypto Investor
- Research the market & trends
- Set a budget and stick to it
- Diversify your investments
- Understand the risks
With these tips in mind, you should be well equipped to take advantage of cryptocurrency volatility, without getting yourself into a sticky situation.
Crypto liquidations hitting $238 million and the 10% jump in Bitcoin’s price can seem intimidating and confusing on the surface, but taking the time to understand the market will give you the confidence to make informed decisions. Have a laugh and allow yourself to be educated on the matter. Who knows, you might just find yourself making some great returns.
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