Crypto worth $10B taken off the market amidst Market Crash ByAli RazaPRO INVESTOR Last Updated: 18 April 2021 Almost $10B worth of crypto was liquidated from the market on Sunday, April 18. This liquidation happened in just an hour of the crypto market crash. The crypto market has been doing reasonably well for the better part of the year. On April 18, the biggest crypto market crash happened, which pushed investors to liquidate crypto held in long positions in just an hour. In a report from Bybt, over $9 billion worth of crypto was liquidated in 12 hours. Simultaneously, over $8 Billion was taken off the market in the past four hours. https://twitter.com/Bloqport/status/1383370757573537796/photo/1 Over the past few days, Bitcoin’s performance has been problematic, given that the currency has been on a downward trend. However, on Sunday, BTC’s market value reduced from around $60,000 to less than $53,000 in just 15 minutes. Bitcoin’s market value has since regained, and at the time of writing, the crypto was trading slightly above $54,000. Other tokens such as Ether, XRP, Litecoin, and Bitcoin Cash have also been affected. While this trend may have been terrifying for investors holding long crypto positions, it was the best opportunity for those who want a dip buy. Lark Davis, a crypto analyst, compared the price surge from what was witnessed in 2017 when a BTC crash created a buying opportunity for investors. #bitcoin has breached the 50 day moving average! This is a rare event. In 2017 it only happened a few times. And every time was a legend making dip buying opportuntiy. pic.twitter.com/LXtETN81AR — Lark Davis (@TheCryptoLark) April 18, 2021 Leveraging crypto longs in a bullish market In a bullish market, like what has been happening in cryptocurrencies since January this year, investors should hold their assets for the long term. However, this can lead to massive losses if the assets were overbought. Overbuying can lead to a sudden market crash like what was witnessed on Sunday. Holding your assets in a long position with low liquidity can also be risky because, in a market crash, the prices go down very fast, leading to the accumulation of losses. Assets in long markets decline faster in value during a market crash than assets in a liquid market. Investors on Perp Protocol, a crypto market with low liquidity, recorded a dip in Ether’s price to $900. Causes of the market crash The cause of the sudden market crash has not yet been known. However, market speculators are attributing it to rumors stating that plans were underway by the U.S. Treasury to charge various financial institutions using cryptocurrencies for money laundering. However, this information has not yet been verified. Investors are also constantly evaluating signals and analytics to establish if the bull market will regain momentum.