bad trader
Sr. Member
****
Offline Offline

Activity: 344
Merit: 250


View Profile Personal Message (Offline)

Ignore
April 17, 2015, 05:41:46 PM
Last edit: April 17, 2015, 05:54:06 PM by bad trader

Why are many of you suddenly concerned about a long squeeze?
I've been concerned about it for a while. There are 25 million dollars of longs on Bitfinex. That's over 100 thousand bitcoins that need to be sold at the current price to close them. There does not seem to be bids for that many coins on all the exchanges combined at any price. And if the price goes lower, more coins need to be sold.

The other posters are paid by NotLambChop to talk about this. Cheesy

edit: Some of those longs might be in altcoins, I guess, but if even half of them are in bitcoins, it still seems excessive to me.