Whale Trader Scores Big Profits with Wrapped Bitcoin
A whale trader recently made a significant profit trading wrapped Bitcoin (WBTC), an ERC-20 token pegged to BTC’s price at a 1:1 ratio. The trader used three wallets to deposit a total of 1,957 WBTC tokens worth nearly $75 million on Binance. According to Lookonchain, the trader made $24 million by consistently buying WBTC at low prices and selling it when Bitcoin’s price rose. One wallet made $11.6 million, while the other two made $6.3 million each.
Bullish Analysts Predict Bitcoin’s Future Price
Crypto analysts are bullish on Bitcoin’s price, with one, Credible Crypto, noting that Bitcoin may be in the later stages of a corrective wave four, as indicated by a recent correction and the formation of an ascending triangle pattern. Credible Crypto suggests a potential surge to $44,000. Additionally, renowned analyst Michaël van de Poppe predicts a significant surge in Bitcoin’s value to $400,000, grounded in previous bull market cycles and the principle of diminishing returns.
Hot Take: Bullish Predictions for Bitcoin’s Future
Experts are optimistic about Bitcoin’s future, with predictions of a significant surge in its value. The recent moves made by a crypto whale trader with wrapped Bitcoin signal potential gains for investors. With various analysts forecasting a surge to $44,000 or even $400,000, it may be a good time for investors to consider Bitcoin and WBTC trading opportunities.
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