Bitcoin Whale Reveals Its Next Indicator for Buying BTC

Michael LaVere
  • Bitcoin whale Joe007 says the next indicator for investing in BTC is a revival of the "bitcoin is dead" narrative. 
  • The whale investor anticipates a generational economic shock ahead as the result of the coronavirus. 

Popular bitcoin whale Joe007 has revealed the next indicator for investors looking to purchase bitcoin. 

Joe007, who reportedly made $20 million in profit between and March 2020, has been cautioning investors over continued market volatility in light of the coronavirus. In a tweet published April 12, the bitcoin whale said he is looking for renewed interest in the “bitcoin is dead” narrative as a bullish indicator for investment. 

Joe007 previously warned the coming fallout from the coronavirus pandemic would lead to the “economic shock” of our generation. He said the short-term flight to fiat and liquidity would likely have large ramifications for the price of crypto-assets. 

The bitcoin whale’s methodology is similar to the Crypto Fear & Greed Index, which uses an aggregation of price and market sentiment. According to the index, times of extreme fear tend to correlate with buying opportunities for bitcoin, indicating the currency is undervalued. 

Bitcoin has been trading in the “extreme fear” category since Mar. 12’s market crash. 

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