{"id":413165,"date":"2020-02-03T11:00:03","date_gmt":"2020-02-03T11:00:03","guid":{"rendered":"https:\/\/ktsl888.com\/?p=413165"},"modified":"2024-06-11T13:41:23","modified_gmt":"2024-06-11T13:41:23","slug":"most-profitable-bitcoin-trader-bitfinex-convinced-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/most-profitable-bitcoin-trader-bitfinex-convinced-rally\/","title":{"rendered":"Millionaire Bitcoin Whale on Bitfinex Not Convinced of Crazy 46% Rally"},"content":{"rendered":"

Over the past month, Bitcoin<\/a> (BTC) has exploded higher. The leading cryptocurrency, after bottoming at $6,400 in the middle of December, has surged by nearly 50%, surging as high as $9,550 last week.<\/p>\n

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Despite this, there are some that are currently skeptical of the ongoing rally. One such (claimed) skeptic is J0e007, the most profitable trader on Bitfinex’s leaderboards.<\/p>\n

Who is J0e007?<\/strong><\/h2>\n

If you’ve been on Crypto Twitter at all over the past few months, you likely know of “J0E007<\/a>,” spelled with a “zero” not with an o.<\/p>\n

Just a few months ago, he didn’t have an online presence. But ever since leading cryptocurrency exchange Bitfinex implemented a leaderboard that allows one to link their profits (or losses) to a Twitter account, he has become one of the Bitcoin space’s most prominent names.<\/p>\n

Per data from said Bitfinex leaderboard, which only contains traders that have explicitly given their consent, J0e took $14.4 million worth of profits in December 2019 and nearly $7 million in the last month alone, beating everyone else named on the Bitcoin trading leaderboard.<\/p>\n

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Not much is known about J0e other than his digital moniker and the fact that he makes quite a bit of money trading Bitcoin.<\/p>\n

He Isn’t Convinced Of Bitcoin’s Rally to $9,000s<\/h2>\n

Unlike the top traders on Wall Street, J0e007 is quite candid about his thoughts on his investments. On Sunday, he debated<\/a> one “DankCoiner22” about trends in the Bitcoin market.<\/p>\n

When asked if he will be “one with the trend” once Bitcoin breaks out of the weekly range it is stuck in ($9,500 is arguably the top), the trader responded by stating that “trends don’t magically ‘happen’.”<\/p>\n

He added that trends are formed by “supply\/demand imbalances and backed by fiat in\/out-flows,” which may give someone with the right information a look into which way a market can head in the near future.<\/p>\n

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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.<\/p>\n

— Joe007 has nothing to teach you\ud83d\udc80 (@J0E007) February 2, 2020<\/a><\/p><\/blockquote>\n