Cryptocurrency

$ 10 million profit: What the Top traders reveal about the psychology of the Bitcoin whales

One of the Top traders on Bitfinex has admitted that he has a core position in Bitcoin he trade never. He considered his Short positions only as a hedge. This has a certain reason.

BTC Shorts to hedge

@J0E007 is a prominent Bitcoin whale, the trade on Bitfinex. Although many people seem to believe that large tends to be a market to trade the biggest part of your stack, has Joe007 confirmed now: He owns a Bitcoin-core position, which it does not trade.
Actually, the Shorts are only a hedge for its core position. Probably, this is also the case with other Bitcoin-whales of the case.
The Whole thing was initiated by @IAmNomad, questioned Joe007 about his Position. Some were of the opinion that @J0E007 would trade his entire Stack when he posted a big 10-million-USD-gains. However, this was not the case.

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Noteworthy here: @J0E007 is sometimes able to dominate the Leaderboard, while he used Shorts/Longs only as a hedge against his already solid Spot Position.

Whales believe in BTC

How to Coin Update has already reported, the number of the “Hodler” of Bitcoin continuously. About 12.6 million BTC have not been moved for more than 12 months.
These investors have experienced, such as Bitcoin, from $3,500 to over $13,000 in increased – your Bitcoins, but still held. This shows mainly one thing: a remarkable Faith in the future prospects of the crypto-currency.
The recent comments from @J0E007 point to the psychology of the largest participants in the market. Even if whales trade frequently, so there is always this Believe in Bitcoins long term potential. This fact never changes, and Shorts might exist only as a hedge to achieve during the long wait for a new all-time high bonus wins.
If you want a lesson about the Trading results. Maybe it is advisable to keep some Bitcoin as the core in order to prevent the complete Liquidation. This lesson, the whales follow, so it is possibly also for smaller traders useful.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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