Chinese Whale Who Suffered Massive Losses in the Latest Crash Reveals New Price Predictions for Bitcoin and Ethereum
Jack Yi, the founder of Liquid Capital, who suffered significant losses on his Ethereum positions and was forced to sell at a loss during the sharp decline in the cryptocurrency market, has made new statements.
Yi argued that while they had reduced their positions as part of risk management, their long-term bull market expectations remained unchanged.
Jack Yi stated in his assessment that despite current market conditions, he maintains his belief in a new major bull cycle. According to Yi, in the next upward wave, Ethereum could rise above $10,000 and Bitcoin could surpass $200,000.
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Yi pointed out the recent liquidity crunch, particularly following the event known as the “October 10th Crash,” and allegations of manipulation on some platforms. While acknowledging that this process caused disappointment in the sector, Yi argued that the long-term trend of the crypto market remains unchanged.
Yi stated that the decision to close positions was purely for risk control purposes, saying, “Our expectation for a major bull market in the future has not changed. We have only made partial adjustments as part of risk management.”
Yi, evaluating current price levels from a long-term investment perspective, argued that the spot market is currently a favorable period for buying, especially considering a three-year return expectation. Stating that the most prominent feature of the crypto market is high volatility, Yi noted that throughout history, many bullish investors have been eliminated from the market due to sharp fluctuations, but this has often been followed by stronger recoveries.
*This is not investment advice.
Continue Reading: Chinese Whale Who Suffered Massive Losses in the Latest Crash Reveals New Price Predictions for Bitcoin and Ethereum
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