[Information] Bitcoin, the liquidation of $ 48 million in the last hour of the internal BitMEX

In the past two years, the famous Bitcoin derivatives platform BitMEX get a lot of attention in the encrypted currency trading community. By 2017, most of the BTC traders continue in the spot exchange trading, which means no leverage, although the trend as investors seek more profits in the past two years has changed the trend.

However, profit-seeking seems to come at a price, has been reported that, BitMEX traders when trading Bitcoin nominal liquidation of billions of dollars.

Due to the nature of the above-mentioned actions (in 2019 there are a lot of moves), has the value of hundreds of millions of BitMEX positions (long and short positions) were liquidated.

After the second half of 2019 is suppressed, bitcoin prices began to bottom out. This optimistic view is based on the encryption Crypto Loomdart an influential analyst indicated that he did not shy away from publishing his 2 cents and his confidence, "polls" via Twitter cattle.

Net bullish market commentator, and after the second half of last year subsided, though not considered a strong performance in the first half of 2019, but it took only a few minutes to surge to $ 400 may mark the beginning of turn, this will enable BTC from the current integration and positive rebound in the first quarter of 2020.

In view of this, the spark of market activity in December and New Year holidays after a few days, in this case, considering the huge price and market volatility, liquidity is not the highest encryption currency market will be mainly for the low trading volume and overall not active.

There are several factors behind this trigger, could explain the unexpected long recovery.

Technical indicators point credits bit more upside

Technically, bitcoin prices in consolidation - this is positive, although although bulls in December 2019 in the first half to withstand a strong bear pressure, but in the December 19 by the trend of falling prices after the suppression of the high selling the impact from December 18.

Bear in a dormant state and keep down the scope of the growing market in the December 19 call interval. From the perspective of efforts and results, and double 18 to 19 December bullish reversal point of view, buyers prevail.

Therefore, it is likely since December 2019 last two weeks of the reaction 61.8% Fibonacci retracement bit may stimulate more revenue in the future.

In addition, please note that there is a daily chart Bollinger squeeze. According to the creator of the index's John Bullinger (John Bollinger) forecast contraction period is expected before periods of high volatility.

Support of technical indicators complement the basic event of excessive support Bitcoin. Bitcoin has gradually developed into a medium of exchange and a store of value, for the troubled economies of the citizens is a real utility.

BitMEX liquidation

With the recovery of Bitcoin, encryption currency derivatives trading platform BitMEX liquidation value of $ 48 million sale of BTC.