Trader Turns $6.2M into $17.5M Thanks to Bitcoin Price Boom

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Trader Turns $6.2M into $17.5M Thanks to Bitcoin Price Boom – Crypto News

Published

7 months ago

October 1, 2024

Dripp

The crypto market is full of opportunities but has also proposed heavy challenges, especially with market volatility, changing trends, and many others. It makes crypto trading a challenging experience but also intriguing for experienced investors. And this is how one experienced crypto trader made $17.5 Million from $6.2 Million after the Bitcoin price boomed.

Bitcoin is not unknown to anyone, as it is the biggest cryptocurrency, covering almost half of the total market cap. More importantly, he has shown impressive gains year by year, making heavy profits for its holders. This is how this crypto trader made millions following the hype of this popular cryptocurrency.

Crypto Trading Made $17.5 Million After Bitcoin Price Boomed

BTC has been growing exponentially, which attracted this diamond trader. This revelation came after Lookonchain, a popular analytics platform, posted the story of this trader on X. As per the Lookonchain post, this crypto trader has recently sold 265.89 $BTC, worth $17.5M. It is a huge selling, making the netizens impressed by the trader’s holding, but that’s not even the best part.

A diamond trader sold 265.89 $BTC($17.5M) 4 hours ago, making a profit of $11.28M(+181%).

He bought 265.89 $BTC($6.23M) at $23,443 from #Bitfinex 2 years ago.

Address:
bc1q75q2rg65220ef3avfppysvtmd05qyz8hnnv4r4 pic.twitter.com/xE25HLkMj8

— Lookonchain (@lookonchain) September 29, 2024

The best part is that the crypto trader has been holding these BTC tokens for two years before selling them recently. He bought these tokens two years ago for Bitfinex, and sold them yesterday for $17.5 Million, making a profit of $11.28 Million. With this crypto trading experience, the trader has made an ROI of 181%.

However, he is not the only investor with profits, as the crypto market has been attempting to recover in the last few days. Another crypto investor made 12.45M from 1.3K after investing in a newly popular meme coin, clarifying how the right investment makes the returns, not the token or crypto alone.

How Bitcoin is Performing Today?

Many analysts earlier speculated that Bitcoin might stay bearish during September month. However, that is not what happened. Despite following a bearish trend in the beginning few days of the month, the token began to rise, collecting 10% of its value, which was visible in the Bitcoin price chart until recently.

Since yesterday, the crypto market has entered a consolidation, as the Bitcoin price has dropped almost 1% today. At the time of writing, the BTC price is at $64K and is slowly aiming to surge higher as the technical charts indicate the presence of buyers. This increased demand may lift the token price even higher, but the sellers are also present, causing the price consolidation. If the BTC price crosses the resistance at the 69033, an upward trend might begin.

Final Thoughts

The fourth quarter of the year has now officially started, and investors are eyeing the Uptober and crypto market rally. However, despite the fully bullish conditions, the market is not in the best form, but still, one trader has shown the best crypto trading experience, where he made $11.28 Million in profits after holding BTC for two years, and this profit came after the Bitcoin price boomed over this period.

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