• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

An Infamous Bitcoin Whale Just Resurfaced — and He’s Got a Bone to Pick

Nick Chong by Nick Chong
8 months ago
in Bitcoin
Reading Time: 2min read
bitcoin price
Advertisement

In May, after building a following of tens of thousands by making millions trading Bitcoin, “Joe007” threw in the towel. At the time, the pseudonymous trader cited his inability to “afford Twitter.”

“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,” the “whale” wrote, discussing how the information he gave on Twitter could affect his profitability. 

So he left, and that was that. Until it wasn’t.

On June 28th, the Bitcoin trader returned. And he’s already begun to pick fights with some segments of the cryptocurrency community.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ah, what the hell. Let's have some more fun.

— ʲᵒᵉ007 (@J0E007) June 28, 2020

Bitcoin’s Most Famous Whale Is Back

The allure of Crypto Twitter was too strong for even a dedicated trader like Joe007. The trader, who makes dozens of millions per month as per Bitfinex’s leaderboard, returned after 50 days away.

And he isn’t pulling any of his punches.

His first task was to call out “degenerate crypto-gamblers and S2F cultists.” The stock-to-flow (S2F) model is an econometric analysis by a pseudonymous analyst predicting Bitcoin will hit $100,000 by 2021, then one million heading in the second half of this decade.

Joe007 went on to call out the “idiocy of the Brrr meme.” The “brrr” meme is a narrative in the cryptocurrency and financial markets that the Federal Reserve’s monetary policies will boost Bitcoin.

The idiocy of Brrr meme explained in terms that even S2F cultists can understand. Amazing! https://t.co/oVGhB8EvYQ

— ʲᵒᵉ007 (@J0E007) June 28, 2020

And lastly, he discussed the “fairy tale narrative” that is “GBTC [is] buying more BTC than miners produce.”

“Arbitrageurs are playing GBTC premium by BORROWING BTC and converting them into GBTC shares. Direct GBTC market buys were less than 10% of miner emission in 2020. Don’t trust, verify,” Joe007 wrote.

Seeing that Joe007 has returned to Twitter for all of six hours, there’s likely a lot more he has to say. But what that will be remains to be seen.

A Massive Economic Shock Is Coming

One of the most poignant comments Joe007 made before his initial departure was that a massive economic shock is coming.

Echoing the fears of many Wall Street analysts and economists, he wrote:

“It is going to be the biggest economic shock of our generation. It will unfold in waves and over time, giving false hopes and then crushing them. The focus of the crisis will be shifting through different areas. Attempts to alleviate and solve one crisis will lead to more mess.”

The Bitcoin trader also shared a paper indicating that it may be a “tough 20 years going forward.”

He did not tie this sentiment to Bitcoin, though there are some saying that a extraneous macro shock will aid cryptocurrencies.

Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
An Infamous Bitcoin Whale Just Resurfaced — and He's Got a Bone to Pick
Tags: bitcoin pricebtcusdBTCUSDTJoe007xbtusd
TweetShare13
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bearish Correction Pauses: Focus Remains on Dollar and Yields

2 hours ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Affect? Billionaire Fund Manager Sells 1.8M Tesla Shares for Clients

1 day ago
Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

1 day ago
bitcoin gold ethereum mark cuban peter schiff

Mark Cuban Slams Peter Schiff: Gold is Dead, Bitcoin and Ethereum Are Today

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Price Outlook: Executive Sees BTC/USD At $60,000

2 days ago
Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 2021

Stobox Allows Common Investors to Participate in a Lucrative Private Round With Its $1 Million Security Token Offering

March 5, 2021

IOST, Polkadot Join Forces to Build Cross-Chain Transfer Bridge

March 5, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.