Yesterday, the value of the main cryptocurrency dropped to its lowest level since January this year. Anthony Scaramucci is confident that the bull market is not over yet and the digital coin will grow in the future
SkyBridge Capital founder Anthony Scaramucci said in an interview with CNBC that the reason for the fall in the value of bitcoin to $ 30 thousand on May 19 was the liquidation of the positions of small investors with large leverage. He also expressed confidence in the continuation of the bull market and further growth in Bitcoin.
"I still think the bull market is in tact for #bitcoin," says @scaramucci. "Most of the smaller players are using tremendous amounts of leverage– we think over $8.6B of crypto accounts were flat out liquidated yesterday….long term bitcoin is bouncing back." pic.twitter.com/ajDo46boHt
— Squawk Box (@SquawkCNBC) May 20, 2021
Over the past day, crypto traders have lost over $ 8 billion, according to the bybt service. Margin positions of 726 thousand users were forcibly liquidated. The largest liquidation was $ 67 million, it happened on the Huobi crypto exchange, paired with Bitcoin.
The liquidation over the past day turned out to be one of the largest in recent years. However, it yielded to the sum of the traders‘ losses on April 17, when they lost $ 9.3 billion.
bitcoin is trading at $ 41.7 thousand, over the past day its price has increased by 12%. At the same time, according to CoinGecko, the total cryptocurrency market capitalization rose to $ 1.8 trillion.