05-24-2021, 03:24 PM
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#2960
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Sarcasm
Join Date: Dec 2007
Location: Olathe
Casino cash: $4552900
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Quote:
Originally Posted by Fat Elvis
The downside? If you are on the wrong side of the bet you will lose money 100x faster. So if you spent $429,000 at 100x leverage, you are essenstially buying $42M worth of Bitcoin. At a purchase price of $31,000/bitcoin, a drop in price of $310/bitcoin would completely wipe you out and your position would be liquidated. In short, at 100x leverage, a price drop of 1% would wipe out your money.
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Holy cow. |
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Posts: 21,145
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