Crypto Trader Who Turned $16,000 Into $18 Million With BONK Reveals What You Need To Win

Source Bitcoinist

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.

BONK price chart from Tradingview.com
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
EURUSD Long-term Forecast: Can ECB Hawks Overcome the Dollar Bullishness? As one of the most traded currency pair in the forex markets, the price of EURUSD affects many traders. Check out our EURUSD long-term forecast for more information.
Author  Mitrade
Mar 13, 2023
As one of the most traded currency pair in the forex markets, the price of EURUSD affects many traders. Check out our EURUSD long-term forecast for more information.
placeholder
Copper Long-term forecast: Will Copper Price Expected To Soar In 2023?The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
Author  Mitrade
Mar 13, 2023
The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
placeholder
Understanding the first crypto market crash of 2024 and what to expect nextThe 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
Author  FXStreet
Jan 04, Thu
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
placeholder
Natural Gas sinks to pivotal level as China’s demand slumpsNatural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
Author  FXStreet
Jul 01, Mon
Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It
placeholder
U.S. Bank Earnings Are Coming: Was Buffett's Sell-Off a Smart Move?Insights - This week, bank stocks will kick off the Q3 2024 U.S. earnings season. JPMorgan Chase and Wells Fargo will report on October 11, followed by Bank of America, Goldman Sachs, Citigroup on O
Author  Mitrade
21 hour ago
Insights - This week, bank stocks will kick off the Q3 2024 U.S. earnings season. JPMorgan Chase and Wells Fargo will report on October 11, followed by Bank of America, Goldman Sachs, Citigroup on O
goTop
quote