A preferred BTC whale, one of many wealthiest identified Bitcoin traders, unveiled an funding technique that almost all crypto merchants say they overlook.
Bitcoin (BTC) Transferring In The Cycle
The Bitcoin whale, often known as Joe007, says good merchants monitor Bitcoin’s long-term price actions, promote positions when BTC rises 10 occasions, and purchase when Bitcoin drops 5 occasions from the highest. Whale, identified for buying and selling with nice leverage on the Bitfinex exchange, calls the tactic “a simple and effective investment strategy that allows anyone to become a whale within a reasonable time frame.”
Whereas declining returns will ultimately make the technique much less viable, Joe believes the 10x / 5x rule will apply at the least for the following few cycles as effectively. The dealer believes Bitcoin is at the moment too risky to undertake a “buy and never sell” strategy.
Joe says the recurring waves of ups and downs match the rumors about BTC. Joe007 additionally says that Bitcoin halves shall be much less essential from cycle to cycle.
“Halvings may have served as the main drivers of supply / demand imbalance in the early cycles, but over time changes on the demand side will play a much larger role.”
When it comes to his private portfolio, the dealer says he has invested an “insignificant” quantity of fiat in Tether (USDT) to guard towards “banking system failure”, in addition to Bitcoin.