$1.2 billion Liquidated By Bears Over The Past 24 Hours
After bitcoin rose to 12.5% increase in the past 24 hours, the price hit to $39,850 making the price the highest so far since June. But this price was unexpected since all we have been seeing from the price of bitcoin were dips upon dips.
I’m so excited because when I woke and checked my chart today, I saw bitcoin at a price I haven’t seen in over a month. For a moment I thought this was a usual manipulative move by the whales, but I decided to get more details. According to reuters a record of $1.2 billion in shorts were liquidated by the bears meaning the bears gave up. The bulls were tired of always being at the support for so long. So they decided to lift the price off the support zone.
Knowing this information gave me a little bit of assurance that this was not just a strategy by the bears. They were actually stuck and had to liquidate.
Posted Using LeoFinance Beta
