An hour ago, $ZEC surged to $1,584.
An air whale that had been short for half a month was forced to close at $1,548, liquidating a ZEC short position worth $24.43 million, taking a net loss of $10.68 million.
Can’t not close—his liquidation price was at $1,551. If he didn’t close voluntarily, what awaited him would be liquidation, and it would only get worse.
Ironically, his win rate had previously been as high as 79%, with cumulative profit of $9.11 million since June. But on this one trade, he went the wrong direction on ZEC—principal and interest, everything was given back.
The contract market is just that ruthless: you can be right a hundred times, but with one fatal mistake, all profits can be wiped out to zero.
An air whale that had been short for half a month was forced to close at $1,548, liquidating a ZEC short position worth $24.43 million, taking a net loss of $10.68 million.
Can’t not close—his liquidation price was at $1,551. If he didn’t close voluntarily, what awaited him would be liquidation, and it would only get worse.
Ironically, his win rate had previously been as high as 79%, with cumulative profit of $9.11 million since June. But on this one trade, he went the wrong direction on ZEC—principal and interest, everything was given back.
The contract market is just that ruthless: you can be right a hundred times, but with one fatal mistake, all profits can be wiped out to zero.
