Although the cryptomarkt is currently running a bit rough, there are still opportunities to achieve huge profits. A smart Bitcoin (BTC) Whale recently proved this by fishing no less than $ 9.4 million, according to data from analysis platform Hypurrscan. But how did this big player manage that?
Large gamble with high bets
The investor fully focused on a decrease in the Bitcoin course and managed to win a spectacular win with a substantial lever of 40x. All this happened just before the long -awaited meeting of the Federal Open Market Committee (FOMC), an important moment for the financial markets.
De Whale used a big way with a short position of 6,210 BTC, good for an astronomical $ 516 million. He approached a price of $ 84,043, but took a big risk. If the digital currency was over $ 85,592, he would have been given a lot of liquidation.
Fortunately for this smart investor, everything fell exactly to his advantage. The outcome of the FOMC meeting gave the market no reason to panic: the interest rate remained unchanged at 4.25% to 4.50%. This led to exactly the price movement he needed. Within a few hours he had $ 9.46 million in his account, a master move that many trader can only dream of.
From Bitcoin to Ethereum
Remarkably, the Whale shifted his focus to a new trade immediately after his win. He had barely closed his short position, or he joined Ethereum (ETH) with confidence. He bought more than 3,200 ETH, good for more than $ 6.1 million, according to Etherscan data. A daring move that raises questions: Does this Whale know something we don’t know? Are we on the eve of a new Ethereum rally?
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Source: https://newsbit.nl/whale-pakt-94-miljoen-winst-met-516-miljoen-shortpositie/
