Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Whale Says He’s Done Dumping BTC As Cryptocurrency Market Turns Green

by Daily Hodl Staff
February 27, 2020
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

A high-profile Bitcoin whale says he’s stopped dumping BTC.

The whale, who goes by the name Joe007, earned $20 million in realized profit from December of 2019 through January of 2020 on the crypto exchange Bitfinex.

About two weeks ago, Joe warned that the market was dominated by “phantom” money, citing an overflow of trading tactics, like spoofing, with too little fiat entering the market.

Since his warning, BTC has plummeted from around $10,150 to as low as $8,593 – with a current price of $8,912. In response to a trader pleading for mercy, Joe says he’s done shorting BTC for now.

Well, you should have asked me when I was actually dumping. But I guess you were too busy buying the FOMO.

— Joe007 {I identify as Deep Blue whale} (@J0E007) February 26, 2020

Joe says he’s bullish on Bitcoin in the long run. He has a core position that he doesn’t trade and is going short and long as a hedge against that position.

“I’m bullish long-term because Bitcoin brings about a millennial shift in money technology. I’m very sure we’ll see higher prices in future. But quite possibly not as soon as everyone seems to expect. Two-three year delay in reaching new ATH won’t be such a big deal IMHO.”

The whale says there are a number of lessons to be learned from Bitcoin’s recent pullback.

In the end, he says crypto traders should learn to avoid “nonsensical narratives” such as the recent meme that Bitcoin is a hedge against economic fallout from the coronavirus.

Buying nonsensical narratives doesn't end wellhttps://t.co/TFgJfbFbTR

— Joe007 {I identify as Deep Blue whale} (@J0E007) February 25, 2020

Currently, the crypto market is once again in the green, with all coins in the top 10 by market cap posting modest gains.

Source: COIN360.com

The overall market cap of all cryptocurrrencies has bounced from a low of $241.8 billion on Wednesday to $254.3 billion.



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Chase Dekker
Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$36,655.00
$36,655.00
4.38%
Ethereum
$1,184.56
$1,184.56
3.53%
XRP
$0.281575
$0.281575
3.18%
Litecoin
$143.40
$143.40
4.05%
Bitcoin Cash
$488.99
$488.99
4.25%

Spotlight

  • Popular Trader Says Three ‘Sleeping Giant’ Crypto Assets Set To Erupt in February
    January 12, 2021
  • Incoming SEC Chief: Fate of XRP Could Have Wider Impact on Crypto Industry
    January 15, 2021
  • Macro Guru Raoul Pal Says Coinbase IPO Will Suck Institutional Liquidity From Bitcoin
    January 9, 2021
  • Top Crypto Lawyer Says New SEC Chief Will Boost Bitcoin – But XRP Is Another Story
    January 13, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.