swilton

ZRXETH broken record or broken token

Long
BINANCE:ZRXETH   0x / Ethereum
ZRXETH is one of the most volatile trading pairs in the entire crypto market. If you can capture the swings with the right timing, it can be very profitable. If your timing or levels are wrong, it can send you to the grave. Recently, ZRXETH has dropped -85% in less than a third of the time that it took to drop the same degree in the 2018 bear market. I am bullish on ETH and appreciate the recent runup and valuation of $1000, but the relative valuation of many altcoins is nonsensically low. This isn't 2018, and a measured drop of such a large magnitude over such a short period of time can only mean one of two things. Either A) The project is totally dead, or B) The valuation is incorrect. I am willing to make a sizable wager that the valuation of ZRX relative to ETH is incorrect. It has double bottomed to absolute all-time low relative to both ETH and BTC . The last time ZRX was at these levels, there was explosive upside in the range of 1000% over the next few months. I don't necessarily expect the same explosive upside, but the potential is really there. As always, let's see what happens.

Comments

Good analysis, now we see it was totally on point. The devs raised some money for their DEX as far as I know, so it could be a trigger.
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