Top Crypto Trader: Focus on Meme Coins, Bitcoin Price Won’t Move in February
As markets brace for an expected bull run this year, traders are rushing to position their portfolios between meme coins and BTC ahead of the halving event, but what do the experts say about Bitcoin in February 2024?
Amid the chaos of Bitcoin hitting a 2-year high, Bitcoin price predictions are sweeping through the market, but one top crypto trader appears to be making waves with his multi-million dollar ideas.
January:
Bitcoin essentially same price as yearly open. Mostly just day traded Bitcoin in January.. didn't hold much risk overnight.
Expecting same approach for Feb. and March.
Current market focus seems to be more on meme coins (lol) and somewhat random lower liquidity CEX… pic.twitter.com/tUc9xv8Bfx
— Loma (@LomahCrypto) February 5, 2024
Loma believes that the next couple of months for BTC could see relative inactivity heading towards the Bitcoin halving, whilst later this year the trader is anticipating major movements.
Loma’s theory is based off his trading performance over the past month, with the prominent trader reeling in an alluring PnL of $2.9m Year-to-Date.
These profits have been mostly secured through day trading, with the trader seemingly reluctant to take long time-frame positions in BTC over the past month.
Market participants, by and large seem to be mirroring this approach as Bitcoin Futures Open Interest also hits 2-year highs at $21bn.
This is a strategy Loma intends to take forward into the months ahead, with the trader anticipating that Bitcoin markets will see relatively little volatility over the course of February and March.
Loma’s analysis on the current market focus ahead of the Bitcoin halving event seems to gravitate towards two main categories of coins.
Firstly, the trader identifies the flurry
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