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Comment by throwkeep | Hacker News Reader

> "The problem with #Crypto, as in most things, is the leverage," he tweeted. "If you don't know how much leverage is in crypto, you don't know anything about crypto."

Wasn't a lot this knocked out when Bitcoin crashed to $30k? How much still remains?

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The largest exchange, Binance, has had over $50B of futures volume in the last 24 hours [0]. Futures are generally traded with leverage and in crypto trading, leverage can be huge - 100x is available many places.

[0] https://www.coingecko.com/en/exchanges/derivatives

It was at 30k earlier this year. It needs to go below 10k for me to consider it crashing.

> It was at 30k earlier this year. It needs to go below 10k for me to consider it crashing.

Bitcoin's price was over $60k a couple of months ago. After it crashed, it tanked to around $30k.

So to you a market valuation tanking 50% is not a crash, and it would need to tank over 80% to qualify as one?

It's cryptos. 50% isn't uncommon and not really anything a seasoned crypto trader/hodler would care about.

> It's cryptos.

That means nothing.

> 50% isn't uncommon

So crashes are common on speculative bubbles. Does that mean these crashes are less of a crash?

The parent only said that 50% reduction for BTC was not cause for alarm for them because of how often such big drawdowns occur in crypto. Nothing more.

Stop trying to pick a fight.

Take a look after June 25th, 2021.

why June 25th?

Quarterly futures expiration. OP is predicting another crash?

I didn't even consider this. Thanks!

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