Community post
bitshares dip and crazy margin call
For a while I considered everything under a dollar a good price for buying bitshares, so I've steadily been doing it.
Yesterday I logged in and to my surprise bitshares was trading at under $.60!
While I frantically updated and optimized my collateral while scratching my brain about how to find funds for more bitshares during this big sale, suddenly something crazy happened:
Someone had a huge margin call at $.47 (more than 300,000bts for sale) I borrowed some bitusd at ridiculously low and dangerous collateral and grabbed as much as I could.
Of course I was feeling a bit sorry for the person who had the margin call.
With this behaviour it could be me next time, but I took my chances.
It didn't last long and after it the price even went down to .50 again. And the whole time I was thinking, "how come noone's mentioning it on steemit?"
However, before I had a chance to post about the margin call it had already passed.
But I would still say that the current price of bts right now ($.52), is perhaps a once in a lifetime bargain. For us latecomers at least.
What do you think? will bts ever go under $.50 again?
Personally I don't think so given all the upcoming news and events related to bitshares.
Replies (3)
I was at .46 imagine how I was boiling..... I am now into .42 still dangerous... what an adrenaline push it was I agree... I went to BitCNY BTS page and almost all the borrowers where in orange they had way more margin calls happening that on the bitUSD even. Yes I agree with you the .5 point seems well funded now.
Yeah, I saw that. Hope you're margin call survived!
So today was even crazier and my little story now seems like nothing, let's see where it ends. As somebody who felt I didn't buy enough bitshares, i'm actually quite pleased with the drop. I just really, really miss those fiat gateways...!