A mysterious cryptocurrency trader recently discussed his latest investment and the overall outlook for the cryptocurrency market. The trader made a profit of $200 million in trading ETH within a month and instantly became an international headline.
The trader hid his identity during the cryptocurrency transaction and was named 200M_trader. As an early investor in cryptocurrency, he began buying bitcoin in 2011. When he started trading ETH, 200M_trader invested huge sums of $55 million and managed to convert it into $283 million in 30 days. In an interview for CCN he was asked about how much his cryptocurrency had hit him in the winter, his recent $4.5 million investment in the Roobee platform, and his views on the ongoing bear market.
Cryptographic currency and bear market: focus on bitcoin halving
When asked how the $200 million cryptocurrency trader when he first entered the cryptocurrency industry, he said:
“Bitcoin. It all started with it at the end of 2011. I believed in this technology and that it could change the economic relationships throughout the world. At that time it was very difficult to buy Bitcoin with fiat money. I had to buy a lot of graphics cards and to mine it. Some amount I purchased privately through ads on Bitcointalk.”
When asked about the current bear market, he said that the bitcoin he sold in the last rally was enough to sustain his life, from Bitcoin $10,000 to $12,000 and ETH $500 to $1,200, respectively. Selling and making a profit, he claims that he is currently not affected by current market conditions.
“I already had an experience of a big downfall of the market from 2013 to 2015, when the market rapidly went down at Bitcoin’s price of around $1,200. That time I did not sell anything. I have not made the same mistake this time. However, the downfall is always a possibility to stock up again, which I do now as well. The market has cycles, and it’s important to remember this during both the rapid growth and the strong downfall. It’s also just a matter of time when the big players will enter this market well and truly. We have this time for now and we need to act.”
His view of the bear market timeline is equally convincing, and he predicts that the “cryptocurrency winter” will soon end, and even when it is estimated.
“The next Bitcoin block reward halving will serve as an additional trigger for growth; perhaps not as explosive, but still growth. The closer this moment is, the closer is the end of the winter. I would advise you to count down the remaining days before halving, rather than count the number of days the bear market lasts, this figure will encourage optimism every day.”
Other investment options
The trader said he has invested in ETH, EOS, TON (Telegram Open Network) and other major projects, but he said that investing in these projects is not all for profit.
“I fully support the movement. The point of no return has been passed – this technology won’t fully replace the traditional instruments, but will change them fundamentally, thus giving access to financial instruments to a wider range of people in the world.”
He said that this is the goal of the Roobee platform he just invested in $4.5 million. Roobee is an investment platform for retail investors based on the blockchain. The trader said he is using the project to address issues such as rapid diversification and transaction security. He went on to point out that in the blockchain, one thing becomes more and more obvious, that is, companies can no longer escape the punishment of failure to deliver products.
“I only invest in projects that can reach a capitalization of $1bn within the time frame of 5 years. I see this potential in Roobee project, that’s why I invested $4.5 million into this blockchain-based investment platform. I’ve been following the same guidelines investing in Ethereum, EOS and other projects. In 2017 this strategy allowed me to transform $55m into $283m within a month. Moreover, I’ve seen a lot on the cryptocurrency market over the past three years, and in 2019 only products with tested business models, solving real tasks facing our world, take the lead.”