Bitcoin Whale Watching Wallet Address Times Markets Perfectly: And They Just Bought the Low
This Bitcoin Address Seems to have Played the Market Perfectly—and they just Bought the Low
The biggest cryptocurrency accounts often give the most accurate insights into the possible trends yet to hit the market. For whatever reason, the cryptocurrency community has always been captivated by the major movers of the market, who are colloquially referred to as “whales.” As the market continue to recover from the shock of the price crash of a few months ago, participants in the cryptocurrency markets are looking to these expensive big-ticket accounts to try to track the latest trends to hit the market.
According to Twitter user @CryptoZyzz, there is a high-roller Bitcoin account which has successfully followed the ups and downs of the market for two years.
Specifically, the unknown owner of the account seems to have dumped most of their coin right before the crash this year, and had bought around 40,000 Bitcoin right before the market climbed to its all-time high late last year.
The tweet speculates that the user has “played the market well,” having succeeded in selling in buying at the right times to ensure maximum profits.
he's been playing the market well, sold the top, just bought back pic.twitter.com/dDBOPao0iz
— zyzz (@CryptoZyzz) September 3, 2018
The strategy used to secure these massive profits has yet to be determined. However, one Twitter user was quick to speculate that the owner of the wallet might be using the 5DMA and 21DMA system in order to structure their buy and sell signals. He points out that this is a “pretty accurate” method of trading in the current cryptocurrency markets.
I think they're using the 5DMA and 21DMA, to confirm buy and sell signals. Pretty accurate trading strategy pic.twitter.com/d6mAlYGhjj
— Delboy (@sp184eib) September 3, 2018
But not everyone within the community is convinced of the legitimacy of the theory.
One Twitter user doubts the correlation between the chart provided by @CryptoZyzz and actual cryptocurrency profits. Instead, Twitter handle @armor123123 charged that there was “no evidence” that BTC was bought and sold at the times highlighted on the chart.
It is possible that the owner of the account simply placed fiat and Bitcoin into their account at times that corresponded to major changes in the market.
In any case, though, this chart provides an interesting insight into what appears to be an effective investment portfolio over the course of two years within the Bitcoin market. For users looking to gain some information on the types of investment patters employed by the “whales,” this tweet is a treasure trove of info.
What do you think? Has bitcoin bottomed out in the low $6,000s and has been recharging for another bull run to all time highs by the end of this year? Or does this bitcoin whale know something we don't as he apparently did in the previous times shown above. Let us know, leave your comments below.