Bitcoin Whale: The Current BitcoinRate Is Too High

Well-known in this community large bitcoin trader with the nickname Joe007 believes that fast halving will not lead to a sharp jump of the first cryptocurrency rate, moreover, he thinks the current BTC rate is unreasonably high.

For those who don’t know, Joe007 is an anonymous Bitcoin trader that takes first place in trading volumes on the largest cryptocurrency exchange Bitfinex for a long time.

He expressed his point of view on Twitter under Elon Mask`s post, telling the shares of Tesla are too high:

I can definitely relate. I also think BTC price is too high.

— ʲᵒᵉ (@J0E007) May 4, 2020

The anonymous trader believes the impact of the upcoming halving is greatly overestimated. The fact is that historically halving led to a parabolic increase in the exchange rate of Bitcoin and altcoins, but not now. Joe007 added that the current growth occurred at fairly low trading volumes and he believes that Bitcoin is not ready for another explosive growth yet.

“The price could be made pumped to $20k or dumped to $2k literally tomorrow, in a market this thin” - the trader commented.

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