Insane Trading Wins and Losses, Major ZEC Turbulence, and More: Bits Recap October 16

Check out two crazy trading stories and learn about the recent performance of ZEC and BTC. The cryptocurrency market has been highly volatile lately, affecting traders who previously opened overly risky long or short positions. The popular privacy coin ZEC headed south after the correction earlier this week and, at one point, nearly broke below the $1,000 psychological barrier. However, the bulls stepped in and stopped the decline, while many analysts believe a new major uptrend could be on the way. BTC also plunged, yet several key factors suggest that the bull run could be just around the corner. The Crazy Stories On one side, there is the case of well-known trader Machi Big Brother, who grew a balance of roughly $56,000 to almost $12.5 million in just four months through aggressive leveraged trading in Ethereum (ETH). However, the strategy eventually backfired after the asset experienced serious fluctuations over the past several days. As CryptoPotato reported, he was “fully liquidated,” and his remaining account value collapsed to just $21,800. This happened on October 15 when ETH’s price dipped to a multi-month low of around $2,300. At the other end of the spectrum is a myster...