When the news broke that 6.3 billion had been stolen, quite a few people chased shorts. A friend called me and said Binance had been hacked for 3.5 billion, waking me up to do arbitrage on-chain.
By 5 a.m., I already felt that prices had stabilized. After all, Binance was footing the bill, so the short-term impact wouldn’t be that great. That’s why I told you not to chase shorts, especially since the market had already priced in the midterm elections over the past month.
Those who were arbitraging with Ethereum on-chain that night had already made enough. As for chasing shorts after prices stabilized, there wasn’t much fun in that.
Once enough people have piled into shorts, the big players can pump the price until you’re dizzy.
The current market price isn’t that high either. There should be another low after the midterm elections, but that will take some time. It’s more likely that we’ll see a high for the year first, followed by a low in the larger cycle.
$BTC $ETH #btc #eth
By 5 a.m., I already felt that prices had stabilized. After all, Binance was footing the bill, so the short-term impact wouldn’t be that great. That’s why I told you not to chase shorts, especially since the market had already priced in the midterm elections over the past month.
Those who were arbitraging with Ethereum on-chain that night had already made enough. As for chasing shorts after prices stabilized, there wasn’t much fun in that.
Once enough people have piled into shorts, the big players can pump the price until you’re dizzy.
The current market price isn’t that high either. There should be another low after the midterm elections, but that will take some time. It’s more likely that we’ll see a high for the year first, followed by a low in the larger cycle.
$BTC $ETH #btc #eth