Bitcoin's Halving Is already priced in, BTC Whale Suggests

Michael LaVere
  • Bitcoin whale JOE007 implied next month's block reward halving is already priced into bitcoin.
  • According to the Bitfinex leaderboard, JOE007 has a massive short position on bitcoin. 

Popular crypto Twitter user and bitcoin whale JOE007 has implied that next month’s block reward halving is already priced into bitcoin. 

JOE007, a well-known bitcoin whale who made a reported $20 million in profit through February and March’s market volatility, expects the price of bitcoin to fall after next month’s halving. 

In a sarcastic tweet published April 26, the bitcoin whale implied BTC’s price already reflects the impact of May’s block reward reduction. 

JOE007 criticized most crypto investors for being “gullible” and “gobbling up” common market narratives. 

When asked why he had become suddenly bearish on the outlook of bitcoin, JOE007 responded that BTC bulls were drunk on “hopium.”

According to data from the Bitfinex leaderboard, JOE007 has a massive position on the price of bitcoin and is currently sitting in well over $700,000 worth of unreliazed profits.

JOE007 bitfinex leaderboard.PNGBitfinex Leaderboard | Source: Bitfinex

However, JOE007 has been vocal about his expectation for bitcoin to enter bearish territory, particularly in response to an economic meltdown caused by the COVID-19 pandemic.  

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