A retail cryptocurrency trader has had astounding success as it has earned $1.04 million swing trading Wrapped Bitcoin (WBTC) over the past nine months. What is interesting when looking at the trader’s profile is that he has not had even a single losing trade -thus achieving 100% success during this period- an impressive hair styling of market trends.
In one of their latest activities, the trader escaped with 60 WBTC at 3.62 million US dollars, already a near peak of WBTC. This trade is their eighth successful transaction. However, after the sale, the trader retained a significant amount of 20.6 WBTC valued at 1.24 million US dollars in order to fortify their stance in the market.
Swing trading is when a trader takes advantage of short-term or medium-term fluctuations in the price of an asset. Buying low and later selling high has, in this case, been implemented. Profit-maximizing has been consistent due to strict discipline and understanding of prevailing market dynamics. Empowering such success in the volatile crypto market is very much realistic. However, it requires excellent timing and management of risks.
This trader’s journey through several months of swing trading WBTC returns its specific advantages, especially for those who are ready to closely monitor the market and act decisively when necessary. But it also means no trading without apprehension and thought in such environments.
