An infamous Bitcoin whale resurfaces again after being gone for so long and claiming his inability to “afford Twitter.” In the latest bitcoin news, we see what he is trying to do next.
At that time, the trader “Joe007” wrote:
“Trading is a dangerous, adversarial, high-stakes info game. It’s played against best-in-class, looking for any advantage. Your trade results and views being public gives them too much advantage over you,” the “whale.”
I guess Twitter farewell threads must be a bit like love letters, so I tried to follow Rousseau’s advice below. Now it’s time to finish it and move on, so all what’s left to say is just this: farewell and good luck. pic.twitter.com/1SoS1jB7bO
— ʲᵒᵉ007 (@J0E007) May 7, 2020
However, on June 28th the infamous bitcoin whale came back and he started picking fights with some members of the crypto community. The allure of Crypto Twitter was extremely strong for a trader of his caliber as he makes millions per month from Bitfinex’s leaderboard, but he eventually came back after 50 days from being away. He is not pulling any punches as it seems. His first task was to call out “degenerate crypto gamblers.” The Stock to flow, model, is considered an econometric analysis by unknown analysts that predict Bitcoin will hit $100,000 by 2021, then one million in the second half of this decade.
The idiocy of Brrr meme explained in terms that even S2F cultists can understand. Amazing! https://t.co/oVGhB8EvYQ
— ʲᵒᵉ007 (@J0E007) June 28, 2020
Joe007 called out the “idiocy of the Brr meme” which is the narrative in the crypto market that the Federal Reserve creates policies that will eventually boost Bitcoin. Lastly, he discussed the “fairytale narrative” that the GBTC is buying more BTC than the miners can produce:
“Arbitrageurs are playing GBTC premium by BORROWING BTC and converting them into GBTC shares. Direct GBTC market buys were less than 10% of miner emission in 2020. Don’t trust, verify.”
By seeking that Joe007 returned to twitter, there is apparently still something to be said, and something that remains to be seen soon. One of his most prominent comments was before his departure about an incoming economic shock:
“It is going to be the biggest economic shock of our generation. It will unfold in waves and over time, giving false hopes and then crushing them. The focus of the crisis will be shifting through different areas. Attempts to alleviate and solve one crisis will lead to more mess.”
The Bitcoin trader shared a paper where it says that the next 20 years will be tough but he didn’t tie this sentiment to Bitcoin although there are some that say a huge macro shock will aid cryptocurrencies.
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