I stole someone else's ticket to rebirth

For Li Yang, it was like playing with a good hand.

Hiding behind Jiang Banxia, ​​I lived a very comfortable life.

Chen Peipei has multiple accounts operating US stock funds, and is also helping him get contracts on the Bitcoin platform.

Last year, Bitcoin climbed to a high of more than 8,000 US dollars, fell to around 5,000 US dollars at the end of the year, and is now more than 4,000 US dollars.

Li Yang took up a large number of short contracts and kept some to hold the position.

Anyway, the person who sold the contract only needs to repay the funds, and they can repay at any time. There will always be someone to take over. Even if Li Yang takes over the contract for two years, it has nothing to do with others.

For various reasons, Chen Peipei did not show him the data this year. He wanted to ask about it. After all, the market opportunity is rare, and if he misses it, he will be the one who suffers the biggest loss.

After Chen Peipei finished giving the approximate data, Li Yang did not waste her time and started thinking about the matter.

The contracts Chen Peipei took were not many, only $4 billion.

You should know that there are hundreds of billions of dollars in contract transactions every day. Over time, the contract amount has long exceeded 500 billion US dollars, but some of the funds are leveraged. Currently, the platform account funds have exceeded 150 billion US dollars.

There is nothing Chen Peipei can do since she only eats so little. She can only look for bargains, but she cannot be too aggressive, otherwise the contract price will be inverted.

Although it started in September last year, it didn't take on too many contracts.

The average price of the contract is around 6,000 US dollars. Especially recently, short orders have been increasing, and Chen Peipei has taken a lot of them.

Li Yang was not willing to just do this, he planned to do something big before everyone could react.

……

There are many Bitcoin platforms on the market, including the well-known Binance, EURUSD, etc.

It’s just that their platform has a low ability to resist risks. Due to the sharp rise and fall in the price of Bitcoin, it was forced to shut down several times, and its credibility is low.

Currently, more than a dozen companies have divided up 20% of the market share except Huobi.

They have too few users, and the contract cannot form a perfect hedge.

In order to ensure the smooth progress of contract transactions, their platform had to set aside a portion of its own funds for hedging.

It's very simple. There are only five people on their platform. Assuming that everyone has the same amount of funds, three people buy short and two people buy long. In this case, the contracts are not equal and cannot be traded. Therefore, the platform can only use its own funds to buy long to ensure that the contract transaction can proceed.

Then once the price of Bitcoin drops, the losses of the two people who bought long will not be enough to make up for the profits of the three people who bought short.

So, the platform has to invest money.

But Huobi platform is different, they have a lot of people.

Other platforms have less than half of the share, but at least five people own it. Huobi platform has at least one hundred people.

Even if there are fifty-four short buys and forty-six long buys, it still looks like there is a gap, but in fact the gap ratio is very low.

Moreover, as the number of contracts increases, the timeline will be extended, and under the balance of the timeline, more tolerance will be created.

A contract can tolerate errors for half a second, and with the buffer of millions of contracts, it can still proceed in an orderly manner.

In order to survive, those platforms try to open contracts on Huobi platform to hedge their own platforms, just for that pitiful transaction fee.

It’s not that they haven’t thought about targeting Huobi, especially when the price of Bitcoin rose last year, the contract transaction volume doubled, and they were so envious.

But they found that the Huobi platform was too stable, and no matter whether the price of Bitcoin soared or plummeted, it would not affect their transactions.

It seemed like there was a hand behind me, always proceeding in an orderly manner.

And they don't have enough funds.

But that was all in the past!

Now they have money!

A mysterious financier provided them with 2 billion US dollars in funding, allowing them to maximize leverage and drive down the price of Bitcoin contracts on the Huobi platform.

The leverage currently provided by Bitcoin platforms is generally three times, six times, or ten times.

There are also those who give twenty times or even a hundred times, but they are a minority.

After all, a 100x leverage means that if you lose just one point, your account funds will be reduced to zero. In a market with such large fluctuations in Bitcoin, even a single point will not allow the system to react and force a position to be closed.

They can probably guess what the purpose of the two billion dollars is, which is mainly to cause the contract price to plummet, thereby affecting the market of Bitcoin spot trading.

Although contracts and spot are two different products, they are still somewhat related.

If it is only upside down by a few points, it is within a reasonable range.

But if it is upside down by dozens of points, it would be abnormal.

Therefore, if the contract price can be dropped by a large margin, the spot market will definitely be affected, causing panic among people who hold Bitcoin.

Two billion US dollars with ten times leverage, a total of 20 billion US dollars, if taken out within one day, can smash the price of the Bitcoin contract.

They are well aware that this price will not last and will only have an impact for a few days.

But it is enough for their clients to buy up stocks in the market.

So, after confirming it, several platforms decided to take action that night.

They must complete the tasks assigned by the client because the other party is a Wall Street tycoon, and he promised that as long as they cooperate well this time, Wall Street can invest in their platform in the future.

Only if Huobi collapses can small platforms like these survive.

Even though they knew that Wall Street was trying to get low-priced chips in the spot market, they had no intention of going over to grab the chips.

dare not.

In the financial market, no one dares to confront Wall Street. They can only wait until the Wall Street bosses have eaten their fill, and then they go over to eat the leftovers.

That day, they invested three billion US dollars.

I originally thought that the contract price would drop by five or six points, and the second batch of funds immediately followed.

As a result, the $3 billion contract was directly eaten up.

So they threw out another $3 billion contract.

Just like last time, it was eaten.

They spent another $2 billion, and again there were no surprises.

They didn't dare to smash it anymore and reported the matter to their superiors.

……

Because we were not allowed to go out, I didn’t visit relatives on the first day of the New Year, nor on the second day.

Li Yang stayed at home playing with his children, keeping an eye on the market at night, and doing some husband-and-wife business with Jiang Banxia.

On the second night of the Chinese New Year, he received a call from Chen Peipei.

"Someone opened a large short contract? We took all of it?"

"Wait, I'll come find you!"

Li Yang immediately left the study, walked out of the yard, and went to the opposite door.

Chen Peipei had already gone to bed, but before going to sleep she opened her laptop and took a look, and saw a string of shocking numbers.

She had already set a contract price, and as long as the contract reached that price, any amount would be eaten up.

As for the account margin? The platform is hers, why should she need a margin?

But she felt something was wrong after eating so much at once, so she called Li Yang immediately.

After a while, Li Yang said he was at the door, and Chen Peipei got up and opened the door for him.

In the living room, she handed the laptop to Li Yang, and Li Yang found that the funds were very concentrated.

He would have to take it back and discuss the specific situation with Jiang Banxia.

So he said, "I'll take the notebook first and see what the situation is."

"Well, okay, is there anything else you need my help with? If not, I'll go to sleep."

"Sleep, sleep."

All the accounts are on his side, so Chen Peipei doesn't need to do anything.

Li Yang hurried back and came to the bedroom.

Jiang Banxia hasn't slept yet. She just took a shower and changed into pajamas, waiting for Li Yang to come over.

The child at home had just fallen asleep less than an hour ago, and this was the time for the couple to be alone.

Then I saw Li Yang coming in with a notebook.

"Master Li, what are you doing? Are you exhausted and need something else to cheer you up?"

"Bah! What's wrong with my brother? I suddenly encountered a little accident here, and I'm a little unsure. Can you help me analyze it?"

"Analyze what?"

“Bitcoin related.”

After saying that, Li Yang came over to the bed and sat down, handing the notebook interface to Jiang Banxia to look at.

At the same time, interface information is also introduced.

"I originally wanted to take over some of the contracts, but today someone suddenly gave me an $8 billion short contract. I felt like they were going to crash the contract price."

“I… haven’t studied Bitcoin much.”

Jiang Banxia could understand, but didn't dare to speak easily.

If Li Yang wasn't sure about something, she would definitely be even less sure.

So, Li Yang pulled up another interface and said, "This is the Bitcoin spot trading market. Help me analyze it."

"Oh, let me take a look..."

Jiang Banxia started to check it out. She was quite familiar with it, just like stocks.

She can understand contract transactions, but she has no idea about the overall data and does not know the daily trading situation.

The transactions of Bitcoin are very obvious, including transaction volume, transaction amount, and intraday K-line.

A few minutes later, Jiang Banxia said, "Funds have started to flow in since September. At first, it was a small amount, and we can see that the funds were still relatively cautious. However, they have not been so cautious in recent days. It seems that they want to take a big amount of chips. I guess the funds are almost absorbed."

"Hmm? Then can you tell how many chips you took before?"

“How can I see this? The daily trading volume is so huge. But Bitcoin is a really good product. It is very suitable for trading in waves.”

Li Yang said: "The previous one was bought from me."

"Where's the back?"

"I don't know. I feel like it was the ones who smashed the contract."

"That's okay, right?"

"I have something to say. I am the one who bought the contract. I currently hold long contracts for $12 billion worth of Bitcoin. If the price of Bitcoin plummets, I will lose a lot of money. Even if it rises, it will not be easy for me to redeem so many contracts."

There are definitely opportunities, but I’m just afraid that others won’t give them to me.

Now someone has invested heavily in it and found that it has been taken over. Maybe they know that the platform has someone to support it, so they have grasped the weakness of the platform.

What if they keep smashing?

To answer or not to answer?

If he continues to accept contracts, he can't accept contracts worth 30 to 50 billion US dollars, right? Even if the price of Bitcoin rises to more than 40,000 US dollars, he won't be able to cash it out.

Moreover, under the pressure of so many short orders, it is hard to say whether Bitcoin can still rise.

"I'll study it further..."

Jiang Banxia began to look through the Bitcoin contract transaction data, and Li Yang was thinking beside him.

There are only a few possibilities, either it is targeting the platform, or it is targeting him, or it is targeting Bitcoin.

Targeting him? First of all, we need to know that he will take it.

No one else knew about this except Chen Peipei.

She has let Bai Ye call her mother, she won't betray herself, right?

This possibility is not high.