$150 Mln Worth of Longs Liquidated on BitMEX After Its CEO Arthur Hayes Posted His $20,000 Bitcoin Price Prediction

Libra Coin News
Thu, 09/19/2019 - 06:56
Alex Dovbnya
$150 mln worth of longs has been wiped out on the BitMEX exchange after the Bitcoin (BTC) price dropped five percent
Cover image via www.bitmex.com

As reported by U.Today, the Bitcoin (BTC) price nosedived to the $9,700 level on Sept. 19, and the bulls inevitably felt the bite.

The sudden price drop triggered a string of longs being liquidated on BitMEX, the leading cryptocurrency derivatives exchange.

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According to a Twitter bot that announces BitMEX liquidations, there were a couple of traders who lost at least $100,000 after a single price move. 

Notably, this collective liquidation nightmare came just one day after BitMEX CEO Arthur Hayes voiced his bold $20,000 Bitcoin price prediction, which came on the heels of the U.S. Federal Reserve pumping in $53 bln of extra cash.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.