The Ethereum (ETH) investor, who traded with a 100 percent success rate until Wednesday, September 18, suffered a loss for the first time.
According to information provided by on-chain analytics platform Lookonchain, the smart trader sold 5,690 ($13.1 million) at $2,304 apiece on Tuesday, September 17.
The investor bought 5,660 Ethereum at $2,316 apiece yesterday before the Fed’s interest rate decision was announced. According to Lookonchain, the trader lost 30.8 ETH ($71,400), which is a relatively small amount for him.
However, Bitcoin and Ethereum prices have increased after the Fed cut interest rates yesterday. According to CoinGecko, ETH has appreciated by 4.8 percent on a daily basis and is trading at $2,435. The whale is now in a profitable position again.
The trader has been actively trading since the beginning of this month. According to Lookonchain, the investor increased 4,821 ETH to 5,690 ETH in just 15 days with the swing trade strategy and earned $2 million.
Swing trade nedir?
In the crypto world, successful trades like this lead to more attention being paid to notable traders and strategies, and this example shows how profitable swing trading can be when implemented correctly.
Swing trading is a trading strategy that aims to take advantage of short-term and medium-term price fluctuations in financial markets. Investors hold assets for periods of time, usually ranging from a few days to a few weeks, trying to catch the momentum that will cause prices to peak or bottom. This strategy allows investors to take advantage of temporary increases or decreases in price movements.
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