Today, May 19, 2021, the crypto community has already managed to call the “Black Wednesday”.
Due to two exchange rate squeezes during the day – first a short rate drops from $43,500 to $29,000, and then a reverse long rate increase to 40,000. The total volume of liquidations on cryptocurrency exchanges around the world reached $20 billion!!!
Since 15:00 on all trading platforms trading crypto assets, there was a significant dominance of sellers over buyers. Almost all assets without exception, up to 16:10, experienced panic sales. All this was accompanied by large volumes. Then the same rapid and difficult predict phase of purchases began.
On the margin markets, there was a fanning out of stops in both directions, which was accompanied by a large number of liquidations of deposits. On the spot markets, the situation was calmer, but in general, users of many exchanges had to face certain problems. Their servers could not withstand such a wave of orders and transactions and were forced to go offline for a while. For example, difficulties with work were noticed at the largest exchange Binance, as well as a number of other trading platforms. At the most crucial moments of today (at the peak of sales and purchases), users of these exchanges not only could not trade, control the balances of their wallets, order statuses, but even contact the support service through standard communication channels.
But thanks to a systematic approach, a verified trading strategy, API management, and successful algorithms of FOBS Asset Management, investors who entrusted their assets to it, today not only did not lose their assets but were also able to increase their capital by 5-10%. And this is even despite the market drawdown of up to 50-60% of ATH (the maximum rate recorded this year)! At the time of the most panic sale, at the level of $29,000, the company managed to buy the required amount of assets, while a huge number of users of many of the largest exchanges were unable to access their personal accounts via the web interface. Trading strategy using API keys has proven to be more winning than ever.
FOBS Asset Management, despite the excellent results, will conduct an additional analysis of this situation in order to further strengthen its position, technical and algorithmic equipment, and technological base. All this is to ensure that the company’s investors continue to receive high-quality timely service, as well as only increase their capital thanks to the streamlined and efficient FOBS Asset Management trading system.