[ad_1]
Crypto trader @theunipcs gained widespread popularity on the crypto community on X (formerly Twitter) after pulling off what is being referred to as a legendary trade involving the Solana meme coin, BONK. The analyst had leveraged longed the BONK meme coin almost a year ago when it was still struggling to survive in the market. As the BONK price pumped through 2023/2024, so did the trader’s bag, rising to over $18 million in unrealized profit at one point.
Naturally, the crypto trader’s success brought about a lot of questions as to how he was able to pull off such a trade. In response, the crypto analyst has revealed his big secret, telling investors that all they actually need to do well in the market is to have conviction.
Why Conviction Is All You Need
In a lengthly X post, the crypto trader revealed how he has been able to hold his BONK trade even through multiple corrections, pointing to his conviction in the meme coin. The trader addressed claims that would say that his 8-figure PNL can be attributed to luck. However, he explains that it is more conviction in a single cryptocurrency than luck.
Unipcs advised investors that they should do away with the mentality that they were going to make a lot of money in a short period of time. Furthermore, he explained that the turning $100 into a million stories were very few, and even in those cases, it had to do with extreme conviction.
So, instead of buying and selling many cryptocurrencies over time, the crypto trader believes that it is better to find one cryptocurrency to get in early into and hold with conviction. The analyst gave the example of his Dogwifhat long trade, which saw him turn $6,000 into $1 million, which he continues to hold.
Another high conviction play for the crypto trader is the FLOKI meme coin. He has revealed that FLOKI is the largest of all of his meme coin holdings and the trader continues to hold it through different cycles. This is due to his conviction and the belief that the FLOKI price will still rise higher.
“Shake yourself out of the pipe dream that you will turn $100 to a million in a few days,” Unipcs said. “If you do not learn to have conviction in your trades, you will end the cycle with a lot of regrets due to a lot of missed opportunities that COULD HAVE been you.”
‘The BONK Guy’
Unipcs is now widely known as “The BONK Guy” in crypto spaces after making his legendary BONK trade public. When the BONK price rose to a new all-time high of $4.7 earlier in the year, his unrealized PNL on his long trade crossed $18 million.
Despite such a mouth-watering profit already, the crypto trader has refused to exit the trade. This is because he believes the BONK price will rise much higher, and this single trade could be worth as high as $50-$100 million in the future.
Featured image created with Dall.E, chart from Tradingview.com
[ad_2]
Source link
