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Machi pulled off another impressive move this time—turned $500,000 into $2.04 million, netting a profit of $1.54 million. Is this a real comeback, or is he about to pay tuition again in the next correction?
Let’s recap: last week, he took $1 million up to $2.08 million, but then ETH crashed from $3,000 to $2,700 the day before yesterday, and he lost everything, principal and profit. Not giving up, he put in another $500,000 over the past two days and went long on ETH at an average price of $2,910. As ETH climbed back above $3,000, he’s now sitting on an unrealized gain of $1.54 million.
But here’s the problem—his liquidation price is set at $2,881. In other words, even a slight pullback could wipe out this money in an instant. How long can this high-wire act last?