The upgrade went smoothly, but the coin broke below $1,000 first.
ZEC plunged to $993 last night, down more than 10% in a single day.
It's now at $1,036, having given back 40% of its September high.
Nothing went wrong with the fundamentals: the NU7 upgrade was completed smoothly.
It was leverage that took a hit: $16.5 million in liquidations over 24 hours, 90% of them long positions.
I don't think the shakeout is over yet, so don't buy the dip just yet. $1,000 was only an initial test of the bottom. 👀
$ZEC
ZEC plunged to $993 last night, down more than 10% in a single day.
It's now at $1,036, having given back 40% of its September high.
Nothing went wrong with the fundamentals: the NU7 upgrade was completed smoothly.
It was leverage that took a hit: $16.5 million in liquidations over 24 hours, 90% of them long positions.
I don't think the shakeout is over yet, so don't buy the dip just yet. $1,000 was only an initial test of the bottom. 👀
$ZEC
