Pseudonymous cryptocurrency trader Crypto Nerd Join the list of liquidated traders affected by the Altcoins correction has a hefty price.
What happened? Crypto Nerd himself claims that he was three times longer than the average person. Pepe PEPE/USD. The Coinbase announces listing of Pepe Futures The trader is particularly bullish.
Crypto Nerd, a Crypto Nerd user on April 13 awoke to find his position liquidated. He said he had ignored “so much sell signal” and went “giga-long on Pepe.”
The man claimed that he had “only $1000 on my bank balance but $1M at Binance.” “I have been in cryptosince 2017.”
Please Read This: The Trading Strategy of This Meme-Coin Millionaire: What DoGE and SHIB Owners Can Learn?
What it means: Many traders were liquidated by the recent crash in altcoins over the weekend, but the experience taught them a lot about how to deal with the market. Even before the recent attack, several factors indicated that Bitcoins and altcoins had a shaky foundation.
Nearly 99% of members of the cryptocurrency community responded to the tweet of the liquidated trader by sharing their experiences with making mistakes and losing large amounts of money.
SlumDOGE MillionaireThe e-book, also known as “Dogecoin MillionaireTweeting “I’m here and still alive, I lost 3,000,000 dollars before, and you will too. Just keep on doing what you have been doing, but be careful. Don’t get carried away.”
World Of All Streets The trader was asked to double-check their direct message. Rekt Fencer Remind them to “Don’t quit, Good luck!”
Lady Crypto She shared with us her story about losing money in 2019 and 2020. “We’re on the brink of the largest bull run ever, and we have millions of dollars to make.” “This is not the final run,”
A second trader PlazmaThey revealed their strategy by saying “this is why I am long 1.5x but only 20% of my Net Worth.” When the price gets close to my liquidation, I’ll just keep adding collateral until the loan is fully covered.
The responses of the crypto-community serve to remind us that trading involves losses, so it is important to use caution and develop a strategy. This liquidated trader experience provided an opportunity to others for them to adjust and learn from their trading approach.
What Next?Influence of memes and coins Bitcoins as an asset class for institutional investors Topics to be covered at Benzinga’s upcoming Digital Assets: The Future Event on November 19,
Continue Reading: ‘I am liquidated again… bye for good: Mad Crypto Alpha with Ivan
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