After the suffering of the 9/25 tragedy, the 10·23 plunge and how many wealth dreams

If the first half of 2019 is a long-term cheer, empty headaches, then the second half is undoubtedly the carnival of the shorts. On September 25th, Bitcoin fell nearly 20%, and only OKEx and BitMEX had billions of dollars in open positions. After the plunge, the bear market seems to be getting heavier and heavier, but in the face of halving next year, the bulls are always reluctant to give up the illusion of a big rebound. After nearly a month of shock, the market once again gave a bully.

WX20191024-092657@2x Source: QKL123

On the evening of October 23, in just 10 minutes, Bitcoin dipped from $7,927 to $7,482, a drop of 5.6%. The premium for the OKEX quarterly delivery contract fell directly from $50 before the fall to $-50. According to The Block data, in the six minutes of Bitcoin's plunge, about $181 million in XBT contracts on BitMEX broke. According to Coin data, OKEx has accumulated a total of 430 million USDT within 24 hours, of which BTC accounted for 47.55%, reaching 262 million USDT.

9.25 ended the 2019 bully, and 10.23 was another sharp knife that inserted a long heart. In the futures market, after two big bursts, the long-term main force has basically declared admit defeat. However, the multi-military army is like leaving the grass, the wildfire is not burning. According to the big data of OKEx contract, the number of BTC long and short positions is 1.50. Compared with the current plunging, the sentiment of retail investors is not decreasing. In terms of large households, the average holding ratio of the BTC elites was 44.27% before the crash, while currently only 24.61%, still exceeding the shorts (15.43%). Among them, in the elite account, the proportion of the long-term account reached 61%, far exceeding the short account.

Many troops are making a comeback, and part of it is the insistence of many users. Of course, there are also short positions that are more profitable after the profit. Seeing more emotions, but the follow-up still does not rule out the risk of continuing to fall. In any case, futures trading must pay attention to risk. Before the plunge last night, a post on the chain node became a hot spot for everyone. Users whose ID is "only two meals a day in a poor day" post before the crash:

"Put out all the deposits, sell the house, sell the car, cash all the cash, friends and relatives can borrow all the money, how much can be loaned by the usury, and the gold and silver jewelry is all right, leave one Mobile phone, all your money borrowed 20 times to buy more bitcoin, then buy a few bottles of wine and side dishes, then buy a bottle of sleeping pills to find a remote hotel to open a room, wait for wealth free or…"


If you really follow the instructions in the post, it is clear that the ending is a tragedy. After the plunge, many netizens followed suit, some sighed, some encouraged, some advised, some concerned: "Buddy, live well! You still have a chance!" "Poor landlord… May heaven have no bitcoin "" Stud is killing people." "Classmates, although I lost a lot of waterfalls, I remembered your safety in the first place."

Fortunately, the landlord just made a joke. In his post, he replied: "The buddy's post is purely entertainment." However, October 23 will be a day that many investors will remember, hundreds of millions of dollars in bursts, how many people have suffered heavy losses, and even ruined their lives. How many people’s dreams of wealth are destroyed overnight. Contract trading is a double-edged sword. High leverage can both make people rich and make people bankrupt. Investors, please be aware of the risks.