James Wynn, a well-known investor, continues active trading in the Bitcoin market despite recent significant losses.
Major Losses and New Trades
James Wynn, who previously made over $50 million on the drop of Bitcoin to $100,000-101,000, suffered a significant loss of $100 million on a single Bitcoin transaction at the end of May. Despite this, Wynn has returned with an even bigger short position.
James Wynn's Predictions
While many analysts expect Bitcoin to continue rising after surpassing $107,000, Wynn does not believe this trend. He argues that the current rise is artificial and preparing the market for a major collapse. He has opened a short position around $108,500.
Warnings for Investors
Wynn also shared that he uses 40x leverage across multiple exchanges and warned investors of a potential severe downturn. He stated: "I made my last short entry at $108.5k. The last rally was a complete fake rally. Expect fierce red candles soon."
James Wynn continues to be an active market participant, drawing attention from investors. His analysis and trading approach may provide key insights into current trends in the cryptocurrency market.
