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Analysis: Short positions face "punishment" which may help push ETH to a high point of $4000 within the year.
Golden Finance reports that the Kobeissi Letter has released its latest analysis showing that ETH/USD may soon reach $4,000. As the largest altcoin by market capitalization, ETH is punishing short positions at an unprecedented rate, and the market is witnessing one of the largest short squeezes in crypto assets history. Data analysis suggests that if Ethereum rises another 10%, an additional $1 billion in short positions will be liquidated.