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Author Topic: ##1 of BitMEX’s Most Profitable Traders Still Thinks Bitcoin Will Hit $30,000  (Read 284 times)

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If you’ve been on Crypto Twitter, you know of AngeloBTC, what some would call a “legendary”  Bitcoin investor. Indeed, prior to his effective retirement, he had over 3,000 BTC worth of registered notional profit on BitMEX, making him one of the most profitable traders on the platform. Ever.




While he has since bowed out of the cryptocurrency game, he continues to keep a close eye on the industry, occasionally tweeting his thoughts about the price of Bitcoin. Fortunately for long-term investors, it appears he’s bullish.



Bitcoin To Hit $30k? Top BitMEX Trader Thinks It Can



Yesterday was undoubtedly one of Bitcoin’s worst days ever; in fact, yesterday’s 40% loss was only second to the BTC price collapse in the wake of the collapse of Mt. Gox, then the largest and most important crypto exchange. At the drop’s worst, the cryptocurrency was down 50% in a single 24-hour period, falling from $7,700 to as low as $3,800.



Unsurprisingly, many traders were caught with tier pants down during this move, so to say, with BitMEX reporting that nearly $1 billion worth of Bitcoin positions on their exchange (majority long positions) were liquidated in this massive crash lower.




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Despite this, Angelo remains bullish; in a tweet published just an hour ago as of the time of writing this, the profitable cryptocurrency trader remarked that it is “crazy how we are still going to $30,000,” referencing his long-held prediction that Bitcoin will eventually pass its all-time high and hit the level he aforementioned.





He doesn’t only expect Bitcoin to see a great move higher with time. In a separate tweet published prior to the recent price action, Angelo explained that he thinks Ethereum will hit $500, Tezos will hit $10, and XRP will hit $1.



There currently aren’t any technical analyses to support such appreciation after the drop, though many remain fundamentally long on the cryptocurrency, especially after central banks and governments have announced their intent to pump billions, even trillions, into the global economies to keep things afloat.



 

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