February 4, 2020
Over the past few weeks, Bitcoin has climbed steadily (with a few trips along the way) from $6800 to $9500, and it is doing it's best to hold above $9000 through and through.
As a professional Day Trader, I watch Bitcoin around the clock. I look for movement that I attribute to individual whales, or the very high rollers in crypto, who regularly wait for the best conditions to buy-in or sell-off heavily when the volume has finished a noticeable decline.
One whale in particular, who calls themselves Joe007, has been earning quite impressively and shares a few tips from their recent 2 million dollar earnings.
Just a few days ago, while Bitcoin was trading within the mid-to-upper $9,000 region, Joe007 explained on Twitter in response to a question from another user that trends don’t “magically happen,” and that they are primarily driven by fiat in/outflows.
Trends don't magically "happen" - they are based on supply/demand imbalances and backed by fiat in/out-flows. Anyone who doesn't understand this and sees BTC as some black box that magically "does what it always does" has no business trading.
Currently, Joe007 is at the top of the Bitfinex profit leaderboard with a whopping $1.68 million in profits made over period delta, significantly outpacing the second highest earner, who has just under $150,000 in profits over the same time period.
While the traditional financial sector crawls it's way begrudgingly into the crypto foray, whales like Joe007 prove that watching for real economic key-points is logical, and when there is an inflow of fiat, it is a determining factor for what comes next.
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