According to data from CoinMarketCap, Bitcoin price is currently at $74,573, immediately after the news that candidate Donald Trump was elected the 47th President of the United States. Trump's support has expanded the capitalization of the world's largest cryptocurrency to more than $1,400 billion, up nearly 10% in just 24 hours.
This surge has delighted many investors, including the Bitcoin Taihuttu family. In 2017, his family decided to sell their 2,500 square meter house to buy Bitcoin for only about $900 - an extremely profitable price that not everyone is lucky enough to seize the opportunity.
Every new day, lying on the terrace of the villa on the hilltop, overlooking the sea in Lagos - a small coastal town in southern Portugal, Didi Taihuttu was sipping black coffee while monitoring the Bitcoin price chart on his laptop. Price fluctuations have significantly increased his family's wealth, and they now hardly have to worry about anything.
Sharing with CNBC, for the past 7 years, Taihuttu has frequently traded back and forth between Bitcoin and stablecoins. Whenever he thinks Bitcoin has reached its peak, he converts Bitcoin to stablecoins like tether, USDC, and DAI. And when he feels Bitcoin has hit the bottom, he buys back in. This strategy has worked well thanks to a self-created tracking indicator before the pandemic, called Didi BAM BAM.
Taihuttu's index is based on many component factors, from trading data to lunar cycles. All of Taihuttu's investment decisions over the past few years have been based on Didi BAM BAM.
"From mid-November to early December 2022, we noticed signs that the bear market was about to end completely. This was confirmed in January 2022 when signs of a bull market appeared," Taihuttu cited as an example but refused to share the amount of Bitcoin assets.
When starting to trade tokens, Taihuttu also applied traditional models to predict the market, such as Stock to Flow (based on the scarcity of assets) or Mayer Multiple (taking the current Bitcoin price divided by the 200-day moving average). After realizing they were not useful, Taihuttu decided to create his own forecasting model.
"Knowing which components are included in the formula is not enough. You need additional calculations," he said. Since 2019, Taihuttu has started to research based on technical and astronomical factors.
"This is a combination of Bollinger Bands, Lower and Upper Bands, NMA, Red/Green Ribbon, NormStoch, RSI, Price Oscillator, Plot, MACD, Cross, Chande Momentum Oscillator, RSI-EMA, Full Moon and New Moon theories," Taihuttu said.
In addition, there are also intangible factors affecting prices, such as lunar cycles.
"I'm not saying it always affects Bitcoin's price, but the moon also influences a lot," Taihuttu said. He noticed that during the full moon or crescent moon, people tend to trade more.
"They tend to buy more or sell more. This could be a coincidence. But if you look at the chart, you will see that most of the time on full moon days, there will be a sharp drop or spike," Taihuttu said.
Currently, the Taihuttu family is living in Portugal - considered a tax haven for cryptocurrencies in Europe. The aim is to avoid paying any taxes when trading virtual currencies.
"You won't have to pay any taxes in Portugal when trading cryptocurrencies, as long as you don't provide related services. This Bitcoin paradise is truly beautiful," Taihuttu said.
Tax privileges help the Taihuttu family save a considerable amount of money. This man even previously planned to build a "cryptocurrency village," buying decentralized real estate, then dividing land by square meter and selling it as tokens or NFTs. He also wanted to "mine" Bitcoin using solar energy, wind, and utilize heat from mining machines to warm his family during winter.
The exact amount of virtual money that Taihuttu possesses has not been disclosed, but those who have heard his story speculate that the value of that money must be enormous for this 'Bitcoin family' to travel all over and deposit their wealth across 4 continents. According to CNBC, over the years, Taihuttu and his family have set foot in more than 40 countries around the world. The continuous rise of Bitcoin has made this family happier than ever.
