THELOGICALINDIAN - Over the aftermost brace of weeks the allocution beyond the cryptocurrency bazaar has been focused on a abandoned Bitcoin bang on the crypto trading belvedere Bitfinex who has been accession a abundant continued position in the crypto asset
Given the contempo abatement in Bitcoin price, that trader’s accumulative continued position is now underwater by almost $25 million. However, back attractive at the trader’s accomplished gains, it all could be allotment of his adept plan.
Bitfinex Bitcoin Whale Underwater By $25 Million
The bazaar is as bearish as it gets on Bitcoin and cryptocurrencies like Ethereum, Ripple, and Litecoin. While the above altcoins abatement into the abrogating for the year with the best contempo bead beyond the market, Bitcoin flirts with the everyman levels of the $6,000 trading range.
Related Reading | Bitcoin Longs Near All-Time High, TD9 Reaches Sell Signal
Many traders, investors, and analysts akin are fearing the affliction for Bitcoin, assured it to either abatement abundant added to acquisition support, or possibly alike set a new lower, buck bazaar low.
However, there are a baddest few who abide abiding in their bullishness and unfazed by the contempo downtrend. One such banker has been dubbed a “whale” by the crypto community, acknowledgment to a massive continued position actuality congenital by the trader on accepted cryptocurrency barter Bitfinex.
BTW if you're apprehensive how our Finex overlord is doing, you can chase his PnL here. (Another 4000 BTC longs added today)https://t.co/Z4tTKdMPku pic.twitter.com/Kdp9Kpu4xo
— RJ (@RJ_Killmex) December 17, 2019
The abandoned Bitfinex Bitcoin bang as been slowly accession a continued position in the arch cryptocurrency by bazaar cap, active continued positions to the highest the metric has anytime been on the platform.
Bitfinex appearance a leaderboard highlighting the success of traders utilizing the platform, and shows the accepted abeyant accumulation and accident associated with the positions of said traders. Included in the leaderboard, is the abandoned Bitfinex whale, who according to the statistics, is underwater by about $25 million.
Crypto Trader’s Track Record Suggests There’s a Strategy At Play
It’s important to agenda that the losses are currently unrealized, and the banker could accept added than abundant basic to assure his annual from defalcation behindhand of how low Bitcoin’s amount falls.
To be fair those are abeyant losses. Have you apparent his accomplished profit? pic.twitter.com/9rLSw6mtaw
— SODL (@hodlfodlsodl) December 17, 2019
It additionally could all be allotment of the trader’s strategy, continuing to amount up on the aboriginal anytime cryptocurrency as the amount avalanche lower and lower, in apprehension of a pre-halving rally.
In fact, back attractive at the trader’s accomplished accumulation and loss, the Bitfinex bang has over $14 actor in profits booked, suggesting that although his approach may be ambagious and alike risky, they acutely apperceive what they are doing.
Related Reading | Traders Prepare For a Big Bitcoin Drop as Shorts Stack 50%
Bitcoin has been bound in a declivity for months, and abounding brainstorm that the basal of the trend is near. If that’s the case, and this banker has loaded up a ample continued in apprehension of the abutting balderdash run, that $25 actor underwater could about-face into a affluence in no time.
