The post Smart Trader Nets $1.48M Profit From $SPX Amid Recent Price Drop appeared on BitcoinEthereumNews.com.

A savvy trader has capitalized on the recent volatility of $SPX, locking in substantial gains despite a significant price decline of around 29% over the past two days. This trader sold 1.9 million $SPX tokens for $1.071 million USDT during the sell-off, showcasing expert timing and a calculated approach. The trader initially purchased 3.068 million $SPX for just $242,000 on September 15 and October 6, positioning themselves before the token’s dramatic price surge. At the height of the rally, their holdings were valued at $2.77 million, reflecting an exceptional return. A smart trader with a 6x return sold 1.45M $SPX for $835K over the past 2 days as the price dropped ~29%. Notably, this trader bought 3.068M $SPX for just $242K on Sep 15 and Oct 6, right before the price soared. Now, the trader holds 1.618M $SPX ($886K), with an est. total… pic.twitter.com/w2tSmdp03Z — Spot On Chain (@spotonchain) November 19, 2024 Trader Still Holds 1 Million $SPX Following the recent sales, the trader still retains 1.168 million $SPX tokens, worth approximately $636,000. Factoring in the current holdings and profits realized from sales, their total estimated profit stands at an impressive $1.48 million—a remarkable 613% gain from their initial investment. This case highlights the trader’s ability to identify opportunities during market lows and capitalize on peaks to maximize returns. By selling a significant portion of their holdings during the recent downturn, they not only locked in profits but also mitigated potential risks amid market corrections. For other investors, this serves as a lesson in strategic trading and disciplined profit-taking. Timing entries and exits, particularly in volatile markets, is critical for achieving such outsized returns. While $SPX’s sharp drop has caught many off guard, this trader’s actions underscore the importance of planning, patience, and a deep understanding of market dynamics. As…

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Filed under: News - @ November 20, 2024 12:25 am