Someone shorted BTC for 331 million dollars

[taufik123]

I decided to see if I can also ride with the wave based on the recent price fluctuations from $80k-$85k. I have just being using spot trader to sell and buy back and it's helpful. I took profit at $85k and waiting to see if it dips to $82k for a buy back and sell at 85k again.

Scalping or even swing trading like you do can certainly give you pretty good results, but you also need to know how the market will move,
as some of the movements are also beyond our initial predictions.

You take advantage of any fluctuations, if the capital you use is quite a lot then the profit is also not bad.
But will it continue to be consistent because backup strategies are certainly needed when the main strategy fails.

[armanda90]

I believe that given the level of risk the person has taken, putting 331 million in leverage to earn 9 million is not such a great reward

To make it easier to understand at our level, I wouldn't leverage 331 dollars to earn only 9 dollars
It was 2.72% profit

Considering profitable earn from capital 331 million and earn profit 9 million seems small depend how much capital used for future trading, but unbelievable with leverage used and liquidation too close for future trading with large capital.
Its braveness future trading usually I only spent 30% of my capital for margin and always try have far for liquidation, but its take short time for every one have much capital for future trading despite with short or long term position can earn much profitable without few hours only.

[rdluffy]

Wow, take a look what I just read on X


Complete source: https://x.com/zachxbt/status/1902713021937426495

zachxbt made ann investigation to find who this "whale" is

[Gurujebs]

zachxbt made ann investigation to find who this "whale" is

I'm a fan of Zach and I do follow him on X, when he posted that immediately, I saw the full detail and I was really flabbergasted with his findings. If the allegations are true, then I don't mind the market going against him, that amount of money he is using to short the Bitcoin market might be from the money he has defrauded people.

Honestly, if I have 300m I don't wouldn't have any reason to want to bet on Bitcoin to fall. It's really not looking well, it's either he has more information than what the public knows because who in his right sense will want to take such kind of risk.

[rdluffy]

I'm a fan of Zach and I do follow him on X, when he posted that immediately, I saw the full detail and I was really flabbergasted with his findings. If the allegations are true, then I don't mind the market going against him, that amount of money he is using to short the Bitcoin market might be from the money he has defrauded people.

Honestly, if I have 300m I don't wouldn't have any reason to want to bet on Bitcoin to fall. It's really not looking well, it's either he has more information than what the public knows because who in his right sense will want to take such kind of risk.

For me, 300 million dollars is an amount that I would only have diversified into BTC, some other coins and would manage safely
I would never bet that amount on leverage, but what he posted and discovered makes a lot of sense, a gambler would do that operation

He ended up being “lucky” and left with an extra 9 million in his account, but it's only a matter of time before he loses a significant amount if he continues with these leverages

[LogitechMouse]

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Honestly, if I have 300m I don't wouldn't have any reason to want to bet on Bitcoin to fall. It's really not looking well, it's either he has more information than what the public knows because who in his right sense will want to take such kind of risk.

I followed this person on Twitter https://x.com/DrProfitCrypto.
Not saying that he has that huge of a following, but he's been saying multiple times that it will still drop to as low as $70,000 before going up again.

Of course, this might be wrong, but the point is that there are still people out there that thinks that Bitcoin will still fall down hence, they're betting on it as well. They might have insider that tells it to them, but that's what rich people are doing. I don't want to tell that they aren't in the right sense just by doing that kind of thing. They're just risking their money and that's what rich people do - risking their money because they can afford it to lose.

[rdluffy]

I followed this person on Twitter https://x.com/DrProfitCrypto.
Not saying that he has that huge of a following, but he's been saying multiple times that it will still drop to as low as $70,000 before going up again.

Of course, this might be wrong, but the point is that there are still people out there that thinks that Bitcoin will still fall down hence, they're betting on it as well. They might have insider that tells it to them, but that's what rich people are doing. I don't want to tell that they aren't in the right sense just by doing that kind of thing. They're just risking their money and that's what rich people do - risking their money because they can afford it to lose.

I've done some leveraged trading and even if you know where the market is going, it's still dangerous and very risky
Let's assume that BTC is going to fall to 70k USD and you're sure of it
You can short BTC 10x, 20x or 50x

However, if BTC has a pump day for whatever reason, you could be liquidated in a few seconds and the price could fall later, but it won't do any good, you'll have lost your money.