Blockchain vice president of Yuga Labs warned that ether could drop to $ 200 in the long -term bear market and decreased 90% in the current price.
In the post of X’s March 11, the executive, known as “Quit”, withdrew from the analysts who offered $ 1,500 on the possible floor of ether. Instead, the end argued that the true bear market can see the ETH significantly lower than the previous market cycle.
“If we just started, the true bear market goal is ~ $ 200- $ 400. This is consistent with the bear market in the past and is 80% of RBIs and 90%. ”
The management said that when things go south, they are in a “comfortable” position. The end of the end was instructed to consider the sale of hideouts if it was uncomfortable for the assets.
source: Quit
ETH holders discuss the potential price trajectory.
Quit’s post depicts a mix of encryption community. Some investors agreed that ETH could fall further, but other investors said such scenarios would require a major collapse.
One X user said he set $ 1,800 to the floor. But when the price reached $ 1,800, they thought they could go to $ 1,200. The ETH holder agreed to the prediction of Quit and said that if the Bitcoin (BTC) reached $ 66,000, he said, “You can go very low.”
On the other hand, another X user did not agree with the prediction that it would be possible only if there was a systematic collapse similar to 2018. Ethical investors said that unlike the previous cycle, ether was adopted by the institution and had a mature ecosystem.
“Positioning for both scenarios is something for all wise investors to do, but it’s too expensive to be too optimistic to be too weak in the wrong time.”
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Ethical whales are against the threat of liquidation
As the price of ether collapsed, the emotion of Quit came out as ethical whales were scratched to avoid liquidation. According to Coingecko data on March 11, ETH prices have decreased by 22% over the last seven days, up to $ 1,791.
Due to the rapid price fluctuations, ETH Whales moved millions of dollars of ETH to protect his position from potential liquidation.
LockonChain, a Blockchain Analytics company, lost $ 33 million to abandon $ 47.8 million and not liquidated. Whales still have more than $ 66 million in liquidation prices in $ 1,316 loan protocol AAVE.
Another ethical investor using more than $ 5 million in assets has already begun to be liquidated to reduce the liquidation price to $ 1,836. Lookonchain said that as the price fell to less than $ 1,800, the balance of $ 120 million in whales was cleared.
The whale account, which is suspected of being connected to the Etherrium Foundation, also spent $ 55 million ETH to avoid liquidation due to price drop. This address will be deposited with more than 30,000 ETHs in Sky Vault, bringing the liquidation price to $ 1.127.14. This account was later decided that it was not related to the Foundation.
https://www.youtube.com/watch?v=fwo0hw_94a4
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