A coin that’s up 89% this year can still drop 15% in a day—would you buy the dip?
$ZEC hit a new low again today: it dipped to 961 intraday and is now hovering around 989. It’s down nearly 25% in 7 days, and has fallen 40% from its late-September high near 1,700.
The most painful part is what’s happening on-chain: 27 of 32 whales with long positions worth over a million dollars are underwater, with a combined unrealized loss of $23.74 million. The biggest position is 13,500 coins, entered at 1,229; it’s now down $3.27 million, with liquidation at 894.
933 is the September 4 low. If that breaks, the next stop is the liquidation zone around 895—and the whales have everything riding on it.
So here’s the question: has this drop created an opportunity, or is the falling knife only just taking off?
A. Once the 895 liquidations are done, that’ll be the bottom—start buying in batches now
B. Even the whales can’t hold on; first, let’s see whether 933 holds
$ZEC $BTC
#Zcash #隐私币 #1000
$ZEC hit a new low again today: it dipped to 961 intraday and is now hovering around 989. It’s down nearly 25% in 7 days, and has fallen 40% from its late-September high near 1,700.
The most painful part is what’s happening on-chain: 27 of 32 whales with long positions worth over a million dollars are underwater, with a combined unrealized loss of $23.74 million. The biggest position is 13,500 coins, entered at 1,229; it’s now down $3.27 million, with liquidation at 894.
933 is the September 4 low. If that breaks, the next stop is the liquidation zone around 895—and the whales have everything riding on it.
So here’s the question: has this drop created an opportunity, or is the falling knife only just taking off?
A. Once the 895 liquidations are done, that’ll be the bottom—start buying in batches now
B. Even the whales can’t hold on; first, let’s see whether 933 holds
$ZEC $BTC
#Zcash #隐私币 #1000
