Crypto Trader Turns $500 Into $80K In 2 Days...But His Liquidation Loss Was Even Bigger

Pseudonymous crypto trader Specula shared his story of turning $500 into $80,000 in just two days after suffering a massive liquidation loss.

What Happened: After being liquidated and losing over $450,000, Specula found himself with just $500 to his name. He started trading aggressively, focusing solely on Bitcoin BTC/USD and Ethereum ETH/USD, and managed to transform his $500 into an astonishing $80,000 within two days.

2 days ago I've finished my initial revenge arc run after being liquidated a couple of days ago. I've lost over $450k. I had nothing. Loaded up $500 and started fighting.
Results: pic.twitter.com/IRmsKscXop

— specula (@sfspecula) June 21, 2024

Specula attributed his success to strategic trading and not shying away from rotating positions. "The key here was to simply bet with size and not be shy to rotate. In my case it was usually closing longs=opening shorts," he pointed out. The trader emphasized the importance of taking bold actions and seizing market conditions that favor such tactics and highlighted that it is important to be confident and go for it irrespective of what anyone else thinks.

Also Read: Bitcoin Whale Makes $395M Purchase: Here’s How Their Last Trade Went

Why It Matters: Specula shared that what kept him going was believing in himself and the inspiration he drew from fellow traders. "If you know you are HIM keep going for it. Doesn't matter what anyone thinks. Just do it. I'd much rather die knowing I have done everything I could to win rather than being scared to even try because of facing Ls."

With the remarkable turnaround nearing completion, he expressed a desire to take a step back and reduce leverage due to the intensity of the ordeal.

"I'm going to chill now and lower my lev because I am sweating," he mentioned, indicating the emotional toll of such high-stakes trading.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Is The ‘Meme Coin Super Cycle’ Over? Trader Outlines Pros And Cons

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock