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.
Nooo, of course it's not priced in. On the very day of The Great Halvening, everybody will finally realize how underpriced BTC is, and they will all rush to buy it. In droves. With their unemployment checks. https://t.co/wAtitWuZbt— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 26, 2020
JOE007 criticized most crypto investors for being “gullible” and “gobbling up” common market narratives.
The way out of being a gullible idiot is to stop gobbling up easy narratives, learn logics and start using your head to distinguish between signal and noise. Give it a try, for a change. pic.twitter.com/Gw8HxlXNay— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 26, 2020
When asked why he had become suddenly bearish on the outlook of bitcoin, JOE007 responded that BTC bulls were drunk on “hopium.”
It's one thing being bullish, quite another being drunk on hopium and buying into nonsensical narratives. Not that I care, really. Everyone is free to donate their money to the cause of their own choosing.— ᴹᵁᴴ𝔍𝔬𝔢⁰⁰⁷ 🐳 (@J0E007) April 27, 2020
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.
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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