In brief:
- @Joe007 is a famous Bitcoin whale who for a long time, thrived on Twitter.
- His trades were legendary with his profits running into the millions on Bitfinex.
- Days after moving on from Twitter, he has reemerged on Bitfinex pulse.
Earlier today, Bitcoin (BTC) pulled a fast one on unsuspecting traders as its value dropped quick and fast from around the $9,600 support zone to $8,100. This move came a few hours before the Bitcoin halving which is now a day away. Many traders were anticipating that such a dip would happen after the halving in a classic ‘buy the rumor, sell the news’ type of way.
@Joe007 Leaves Twitter To Protect His Trading Setups
The sudden drop in price has had many retail traders concluding that it was Bitcoin whales who saw an opportunity to short BTC and did so en masse. One such whale who is famous for shorting Bitcoin is @Joe007 who recently walked away from crypto twitter on May 7th. @Joe007 deleted his Twitter account around the same time BTC hit $10,000. His departure led many to speculate that he left because of the loss he incurred from shorting BTC from around $6,800.
However, @Joe007 posted an elaborate thread on Twitter where he explained his departure as a way of protecting his trading setups:
…I can’t really afford Twitter. There are many reasons why I can’t stay, unfortunately.
Here is one. Trading is a dangerous, adversarial, high-stakes info game. It’s played against best-in-class, looking for any advantage. Your trade results and views being public gives them too much advantage over you. There are tools reconstructing my portfolio out there already.
@Joe007 Reappears on Bitfinex Pulse
However, trader @Joe007 has reappeared on Bitfinex Pulse commenting on the recent sudden drop of Bitcoin via the following meme that was brought to our attention by the exchange’s CTO, Paolo Ardoino.
A message from J0E007 https://t.co/GSTqGIIVb7
— Paolo Ardoino (@paoloardoino) May 10, 2020
What is Bitfinex Pulse?
Launched in late April this year, Bitfinex Pulse is the crypto exchange’s homegrown social network that lets traders connect with each other and perhaps share ideas. The main aim of the platform is to provide an avenue for crypto content sharing. The announcement by Bitfinex launching the platform further explains this as follows.
In response to customer demand, we’re excited to announce the launch of Bitfinex Pulse, a social networking platform enabling our customers to connect with each other and get a trading edge.
The launch of Bitfinex Pulse provides our growing customer base with a specialist crypto content distribution platform for traders. The platform will serve as an intuitive and fun way for our users to interact and share crypto news and views on market trends and developments.
(Feature image courtesy of Todd Cravens on Unsplash.)