A trader who made international headlines when he made a $200 million profit trading Ethereum in a single month has spoken to CCN about outlook on the crypto bear market in general.
The trader goes by the moniker 200M_trader. An early investor in crypto who started buying Bitcoin in 2011, 200M_trader brought the sum of $55 million to the business 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.
When CCN asked the $200 million dollar man how he came to be involved in crypto originally, he said:
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 :
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.