A legendary Eth trader which transformed once modest $ 125,000 in more than $ 43 million saw almost all of his fortune disappear after Last decline in the Ethereum Prize. According to reports, the merchant went to ETH for a long time during the recent rally of bulls, but was liquidated, leaving his balance to $ 771,000 while the prices rest strongly.
$ 42 million erased while Ethereum Price Crash arrives as a star
In one of the most spectacular slowdowns in the history of recent trading, a legendary merchant who made sure to transform $ 125,000 into $ 43 million devastating loss. Lookonchain blockchain analysis platform reports That the merchant has reopened a long position on Ethereum, to be taken in the last price crash. The strong correction had destroyed its lever effect, triggering liquidations which erased $ 6.22 million and left its account with only $ 771,000.
Until recently, the merchant had built A strong portfolio, capitalizing on the recent Ethereum price rally Thanks to a series of well -timed positions. Barely a few days ago, he left a huge 66,749 ETH with a value of $ 303 million, which guarantees $ 6.86 million in profits, which is equivalent to a gain of 55 times on his initial capital of $ 125,000. At the top of its race, its total equity had exceeded $ 43 million, an increase of 344x compared to the place where it started.
The crash of the weekHowever, almost all the progress of the merchant took place. In just two days, Lookonchain reports that four months of earnings have been erased, leaving him with a fraction of the place where he was held. The drop in its summit of $ 43 million highlights a much deeper collapse – a value of approximately $ 42.2 million.
For a merchant who almost made one of the most Successful eth trades This year, the spectacular reversal seen in the Ethereum price highlights the Brutal market volatility. He also underlines the dangers of the holding of sucking positions and the risk of not obtaining gains while market prices were still riding.
The analyst says that the withdrawal of Ethereum is healthy
The Ethereum Prize has seen a 10% drop This week, triggering a wave of liquidation and Wide market sales. However, analysts suggest that the retrace of the ETH may not be a cause of panic. Mark Newton, Technical Analyst and Managing Director / Global Manager of Technological Strategy at Fundstrat, note This Ethereum undergoes what he considers as a Pollback healthy.
In an e-mail at the IOC and the manager of the research of Fundstratrate, Thomas Lee, Newton stressed that ETH consolidated About the range of $ 4,075 to $ 4,150, which it considers a favorable risk area for the middle of the week. The technical analyst confirmed that the recent drop in Ethereum prices is in accordance with Elliott wave models And should not be interpreted as the end of the bullish impulse of Ethereum.
Instead, he thinks that after this brief correction, Ethereum could rise to a New top of all time Almost $ 5,100. Based on this upward thesis, the retrace represents a temporary cooling phase rather than the start of a prolonged slowdown.
Istock star image, tradingView.com graphic
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