Well there we go then, bitcoin and crypto prices in freefall for the last two weeks.
I bought Bitcoin on a forex site for around $ 8000 range. Foolishly I would add confidently. Price dropped and its been hovering around $6000 for the last few months then in the last two days it dropped 80% .
Still don’t grasp what this margin issue is – how it works, how it is that there’s always a margin call thingy despite all the Youtube videos I been watching.
I am holding actual bitcoin and the only way I can lose everything there if is bitcoin goes to zero. But on these Forex trading sites it seems that lower value of bitcoin, or anything else your ‘betting’ on, lowers margin levels and at at a certain stage – poof! it all goes.
Yes, betting. That’s the term used. It’s all frigging gambling. Feels like I’m throwing good money after bad, just to save the principal. Or is it principle?
Dec 24, Cyprus. Price recovered a bit but bouncing around. Money in account finally so margin up and secure.