A mysterious trader who made international headlines when he turned a $200 million profit trading Ethereum in a single month has agreed to speak with CCN regarding his latest investments and his outlook on the crypto market in general.
With his identity hidden from authorities, the trader goes by the moniker 200M_trader. An early investor in crypto who started buying Bitcoin in 2011, 200M_trader brought the hefty sum of $55 million to the table when he started trading Ethereum and managed to turn that into $283 million within 30 days. CCN got in touch to ask about how hard the crypto winter has hit him, his recent $4.5 million investment into the Roobee platform, and what his take on the bear market timeline is.
Crypto and the Bear Market: Keep an Eye on Halving
We asked the $200 million dollar man how he came to be involved in crypto originally:
Bitcoin. It all started with it in 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 stated that he had sold enough to live on during the last rally, taking Bitcoin profits at $10,000 - $12,000 and Ethereum profits at $4500 - $1,200, and claims to now be unaffected by the 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 thoughts on the timeline of the bear market were equally compelling, predicting a swift and even measurable end to crypto winter.
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.
The next Bitcoin halving date is due in May 2020.
Other Investment Choices
The trader stated that he had invested in Ethereum, EOS, TON (Telegram Open Network) and other majorly successful projects, but rejected the notion that it was all about profits.
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.
This, he states, is the goal of the Roobee platform he has just invested $4.5 million. Roobee is an investment platform for retail investors on a blockchain, and the trader told CCN that he's turning to it to solve issues like quick diversification, transaction security, and other features. He went on to point out something becoming increasingly clear in blockchain, which is that companies are no longer getting away with failure to deliver on 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.
Featured image from Shutterstock.