Crypto millionaire James Wynn acknowledged that his recent liquidation signals the end of the market downturn, despite losses exceeding $22,000.
Wynn's New Liquidation in the Crypto Market
James Wynn was liquidated on his recent 10x leveraged position, resulting in a loss of $22,627 betting on Dogecoin (DOGE) price appreciation. This event follows his previous more significant losses in May when a $100 million position was liquidated as BTC briefly dipped below $105,000.
Wynn's Commentary on Market Conditions
Despite recent losses, Wynn believes that the liquidation of his positions may signal the end of the market correction. He posted that it is time to go max long, viewing the situation as a sign of market trend change.
Criticism of the Memecoin 'Cabal'
Wynn also criticized the memecoin 'cabal', accusing them of market manipulation and orchestrated pump and dump schemes. He expressed frustration with how these actions negatively impact traders, adding that he intends to create his own meme coins without collaborating with other influential market figures.
In conclusion, despite the tough conditions in the crypto market and personal losses, James Wynn remains optimistic about recovery, planning new steps on the financial horizon.
