As the week draws to a close, there have been some interesting turns in the price of bitcoin. The digital asset which had been struggling to hold the $20,000 had finally broken out of this funk and was able to make a rally to the mid $22,000s. This rally had naturally led to liquidations in the market and as time goes on, these liquidations ramped up with the volatility that has followed this price recovery.
More Than 65,000 Traders Rekt
As of Friday morning, data from Coinglass shows that more than 65,000 traders have been liquidated over the last 24 hours. The liquidations had surged following the quick recovery of bitcoin above $20,000 and by the end of the day, it had added over $2,000 to its value. Traders were quickly caught off guard and millions of dollars in short positions were liquidated.
In total, there have been more than $280 million in liquidations over the last day and they continue to grow. The majority has come out to be shorts with $214.74 million in the last day....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...