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Bitcoin took a dump and almost deleted 2020 !

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@bitrocker2020
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Well .. I guess this is a typical sight which we are almost used to seeing already. BTC bears came and took out all the charging bulls and pushed it all the way down to $8.7k which caused a lot of liquidation for those who were trading margins.

About $185 million was liquidated on just BitMex alone and thats just over 24 hours period. You can checkout this website for info like this.

https://www.cryptometer.io/bitmex-rekt

Almost all the altcoins also followed down and STEEM was not spared as well bringing us back into the $0.1x after a good run in the $0.2x for awhile.

I guess on a good note, Steem Back Dollar has risen a little bit over the past 24 hours. And with a lot of people holding on to your SBD, perhaps its time to convert it to steem ?


Having said that, literally the dump which BTC did almost took out all of the increaments of BTC price since Jan 2020 which was around $7.3k. Lets hope that the Bulls will charge up and return.


Alternative investments

As for me, I've diversified a little bit to be able to gain more and do some tests on DeFi. One of the successful one was from TokenSets. https://www.tokensets.com/set/ethmacoapy

What it did was to convert my ETH to cUSD as how the contract was written and now I'm gaining interest while its sitting as cUSD and once the price signals for ETH to go up once more it would then convert back that cUSD to ETH. Its not a lot as I've only put in a little to try out this contract, and it does seem to be working well.

I'm still very new to all this DeFi stuff therefore I'm not advising you to invest in anything of sort, just would like to share with you an option which may want to look at when diversifying your investments.

Cheers and keep on Steeming !