No doubt, Bitcoin leads in the cryptocurrency world. As the most popular cryptocurrency, there’s more money to make trading Bitcoin than any altcoins.
Over the years, many individuals have made lots of money trading bitcoin using different tactics and strategies. And for new traders getting into the crypto industry, their target is to make bitcoin profits.
Like I would always say, as a beginner bitcoin trader, it is necessary to have top traders you look up to. By following the steps of the successful ones, you have a higher chance of succeeding.
This post will show you the best bitcoin trader in the world and other notable mentions.
Bitcoin Trading Overview
Before showing you the best bitcoin trader in the world, I will like to explain a little about bitcoin trading. Bitcoin trading might seem to be merely buying and selling bitcoin, but there’s more involved. You might buy Bitcoin today and wait for an extended period before selling (a year or more) while the bitcoin’s price might have appreciated. But, that’s not what is referred to when bitcoin trading is mentioned. The main deal is day trading.
If you’ve looked at a bitcoin price chart for some minutes to hours, you’ll notice that the price never stays the same. It always fluctuates no matter how small or large the difference might be. Those little price changes are what day traders are interested in, and that’s how money is made.
As a day trader, you speculate on the bitcoin price, thereby trading on CFDs if the bitcoin price appreciates or depreciates. You can bet on any stance, and if your speculation is correct, you earn money. If I’m honest, I’ll tell you that bitcoin trading is hard. This is why traders are always advised to put in what they can afford to lose as there’s no profit guarantee.
It is even harder for beginners because you cannot detect whether Bitcoin’s value will appreciate or depreciate from only thoughts and perceptions. You do so by thorough analysis using sophisticated trading tools that your trading platform will provide for the most. But then, mastering these tools might take a long time, a year or more.
The best way to stay safe is by following and taking advice from top crypto traders and with time, developing your personal strategy. According to Tickmill, tt is also recommended to first open a forex demo account to try Bitcoin trading without risking your own money.
Who Is The Best Bitcoin Trader In The World?
There are several renowned bitcoin traders, but for the best, I’ll pick Philakone aka the ‘Sniper Day Trader.’ The reason is not only because he is one of the most successful bitcoin traders in the world, but also for his efforts to make sure that new bitcoin traders win.
Philakone is not just a bitcoin trader but also a bitcoin analyst. He shares his analysis for free on Twitter with over 100,000 followers. For Philakone, the best bitcoin trading analysis and method yet is the Elliott Wave theory developed by Ralph Nelson Elliott. Other top bitcoin traders also make use of this trading method.
Additionally, Philakone doesn’t trade on Bitcoin alone; he also trades and analyses Ripple and Bitcoin Cash.
Other Notable Mentions
Here are other top bitcoin traders in the world you can watch as well;
Excavo
Excavo is an anonymous bitcoin trader and analyst on Tradingview. He is the most-read analyst on the platform with about 70,000 followers. His technical analysis reports, over 1200 of them, have over 850,000 views from other bitcoin enthusiasts. Excavo is renowned for determining BTC price trends using indicators on Bitfinex.
Nick Core
Just like Philakone, Nick Core shares his trading analysis on Twitter for free. He is a statistician with over 30,000 followers on the platform. Nick Core also shares his analysis on YouTube and Tradingview. He also analyses Ripple and Litecoin.
Magic Poop Cannon
When it comes to trading BTC/USD, Magic Poop Cannon is one of the best bitcoin traders out there. This trader is prevalent on Tradingview and boasts a 44,000 audience. However, as you would decipher from his name, the trader trades bitcoin anonymously, and his real identity is unknown.
Rounding Up
At the end of the day, every bitcoin trader wants to make a profit. I don’t think any trader in the crypto space has a motive to be the best bitcoin trader in the world. For Philakone, he attained this commanding height with dedication, and as mentioned before, it’s not all about himself; he wants others to be successful while trading Bitcoin.