Eric Wall, former chief investment officer at Arcane Assets, is celebrating to capitalize on HEX’s falling price, just days after Swedish cryptocurrency analyst debated HEX founder Richard Hart.
The two met on May 24 to film a segment for Hart’s upcoming documentary, “The Highest of Stakes”. Wall was invited to participate because the filmmakers believed that “great storytelling requires conflict,” and Wall’s opposition to the project was well publicized and long-lasting. Is.
The HEX was trading at $0.5561 at its all-time high (ATH) in November 2021.
HEX is currently trading at $0.072209, down 46.2% over the last 7 days.
‘Stupid talk’ of the heart over the head
Hart first explained HEX to Eric Wall in 2019, which almost immediately raised Wall’s ears.
“Sorry Richard, this is the dumbest f**king thing I’ve ever done in my life,” he replied. Wall’s current enthusiasm stems from the now declining fortunes of the HEX, something that the analyst-turned-promotion writer has personally been able to leverage to profit.
Wall does not hesitate to bet against the project, leading to several high profile calls against HEX in both the short and medium term. In February, the Wall made a $20,000 bet That the HEX will not break its previous ATH of $0.56.
The falling price of HEX has caused serious celebration on the wall, allowing traders to hedge their previous bets by buying the token at a much lower price.
“Today, I officially covered my short,” tweeted Wall On May 27, “I bought 71429 HEX @ $0.0420 for a total of $3000, giving me a guaranteed minimum profit of $17,000.”
Wall later expressed disappointment that no one found his “420” price action joke amusing, even though Musk summed it up better.
hitting the wall
After Heart & Wall’s first encounter in 2019, when HEX was trading at only a fraction of a cent, the cryptocurrency went on a fairly bull run. Shortly after this latest debate, the cryptocurrency performed less well.
It is not clear whether the content of either interaction had any effect on price action. On Friday, the price of HEX fell as low as $0.04988, while on Saturday it increased by almost 20% to $0.07251.
The market has been significantly more volatile in the wake of the Terra (LUNA) disaster, reducing the overall market size from $1.9 trillion on May 5 to $1.2 trillion today.
It’s clear that HEX hit a wall this week, but that wall was not Eric Wall.
What did you think of this topic? Write to us and let us know!
![Is Bitcoin [BTC] doing enough to allure deeply-affected miners](https://files.ambcrypto.com/wp-content/uploads/2022/06/25152814/bitcoin-5896212_1280-1000x600.jpg)
