A cryptocurrency investor managed to make approximately $13.5 million in profits in just four days through strategic Bitcoin trades.
A cryptocurrency investor managed to make approximately $13.5 million in profits in just four days through strategic Bitcoin trades.
According look chaina blockchain analysis platform, the investor initially withdrew 2,742 Bitcoins valued at $118.66 million from Binance, a major cryptocurrency exchange, when the price of Bitcoin was $43,277.
After a significant price increase, the investor again deposited the same amount of Bitcoin, now valued at $132 million, on Binance at a price of $48,193 per Bitcoin.
Strategic investment or timely luck?
This lucrative move came just before the price of Bitcoin saw a slight increase, solidifying at $48,250.37, according to the latest market data.
The timing of the transactions suggests a well-calculated strategy, taking advantage of the volatility of the cryptocurrency market to the benefit of the investor.
However, some observers wonder if the investor could have realized even higher returns if he had waited longer, especially considering current market trends and the potential for Bitcoin’s price to rise even further.
The market is optimistic amid skepticism
Despite the skepticism that often surrounds the cryptocurrency market, analysts like Ali (@ali_charts) emphasize that Bitcoin has maintained strong support levels.
They argue that such support levels could overcome resistance in the market, potentially paving the way for Bitcoin price to spike to higher resistance levels, around $57,000.
