from upbit to ETH rise

in #tw5 years ago

What I learnt from the recent hack by upbit?

  • After the hack news, ETH fell to as low as 133 USD
  • But the fall is rather short-lived and quickly bounced back to 146 USD to which this is actually an up day.
  • Per today, the price is 156 USD which is 1x% of the bottom few days ago
  • After the back, the wallet is quickly identified which reduce the ability to sell the coin, this in turns limit the supply.
  • upbit announced they will compensate the loss of the holders, this means this also need to buy back ETH from market
  • rationale trader will put up trade knowing upbit needs to buy back ETH --> when your exposure and move are exposed, you are the target by the traders.

Screen Shot 2019-11-30 at 12.41.14 AM.png

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