An Ethereum trade is creating buzz and sending a strong message: consider not selling too soon if you have bags.
Just last month, Trader 0x83c6 sold 2,522 ETH for $3.96 million, even though Ethereum was worth $1,570 at the time. It seemed to some like a wise move since the market wasn’t going up or down much. But the events of that day did not finish.
Around half an hour ago, that trader sold 1,425 ETH and gained nearly $3.8 million—this time buying for a much higher price of $2,670 each. The result is that more than $2.67 million worth of Ethereum is now out of the system.
A Painful Lesson in Timing
This example teaches us just how tough it is to predict when the crypto market will change. You might think it’s wise to sell during drops or hold when things fall, but taking these actions can lead to a lot of damage. As a result, the trader lost a lot of Ethereum because they purchased a lower amount than they sold.
The Greater Perspective
Rising market optimism and ongoing trade deals have led to the recent growth in Ethereum. Many investors may avoid this type of loss, but the story reminds us that quick moves in a volatile market can go wrong.
Many people now realize that patience is still important in crypto, thanks to the high prices and the reemergence of FOMO. In some cases, simply waiting out the storm is the safest thing to do.
