Cryptocurrency
Analyst Who Called Ethereum’s Drop to $200 Swings Long: Here’s Why
As reported on NewsBTC, “Today’s crypto market carnage, which brought Bitcoin under $8,000 and Ethereum under $200, caught most off guard. Case in point: over $200 million worth of Bitcoin positions (mostly longs) were liquidated on BitMEX during the move, and likely many more millions were lost on leveraged altcoin positions too. “There was one trader who […]
As reported on NewsBTC, “Today’s crypto market carnage, which brought Bitcoin under $8,000 and Ethereum under $200, caught most off guard. Case in point: over $200 million worth of Bitcoin positions (mostly longs) were liquidated on BitMEX during the move, and likely many more millions were lost on leveraged altcoin positions too.
“There was one trader who called this crash, however, at least in the price of Ethereum. The person in question is TraderEscobar.
“As reported by NewsBTC, at the end of February, when ETH was trading around $230, he remarked that the cryptocurrency was in the midst of a ‘red pill’ scenario that could rapidly take the price of the asset to $200 without finding support.
“And that it did, as Bitcoin fell through key support levels just last weekend, ETH fell even faster, falling through $220, $210, then $200, to only bottom around $197…