One of the most successful BitMEX traders believes that Bitcoin is bound to experience another major correction
Cryptocurrency trader “Angelo฿TC,” who rose to stardom after becoming the number one trader by notional profit on the BitMEX cryptocurrency exchange, has just taken crypto Twitter by the storm by saying that he’s “patiently waiting” for the Bitcoin (BTC) price to hit $6,000 so that he can add more sats to hit long-term holdings.
It’s very rare when the “semi-retired” whale takes to Twitter, but he always causes a huge splash when he does. At the end of August, when Bitcoin was still hovering above the $10,000 level, he tweeted his friend’s warning about “long capitulation” that would occur if Bitcoin were to break below $8,000.
As reported by U.Today, the BTC price did experience a painful correction on Sept. 25, just two days after the much-anticipated Bakkt launch. After rebounding from the $7,700 level and witnessing several fakeouts, the top coin is currently trading sideways in the $8,100-$8,200 region.
Back in March, when Bitcoin was inching closer to its historic 20 percent green candle that was recorded on Apr. 2, “Angelo฿TC” stated said he had never been more bullish on Bitcoin.
He predicted that the BTC price could surge to $30,000 by 2021 given that crypto is only “a drop in the bucket” compared to already established asset classes, such as gold.
“The end goal for Bitcoin as an investment is a binary outcome. It goes to 0 or you 10x your investment. There is no in-between.”
Still, $30,000 might be a very conservative figure. Commodity trading veteran Peter Brandt, whose tweets also attract a lot of attention on Twitter, recently predicted that the BTC price could shoot up to $50,000 after eventually bottoming out at the $5,500 level at the beginning of January.