Redditor Claims To Have Built a Trading Bot That Earns Bitcoin Automatically – But Does It Really Work?
A recent Reddit post has ignited heated debate within the r/CryptoCurrency community, drawing both intrigue and skepticism. The post, authored by Redditor kbxads claiming to have cracked the code to earning Bitcoin with ease, details a highly specific trading strategy involving bots programmed to buy and sell Bitcoin at certain times each month.
While the supposed strategy produced astronomical returns in hypothetical backtesting, commenters were quick to point out the implausibility of reliably timing Bitcoin’s volatile price action. They further highlighted flaws in the Redditor’s methodology, noting that any predictable pattern would likely vanish once exploited by real-world traders.
The Redditor claims to have analyzed Bitcoin’s historical pricing data and identified certain recurring trends. They believe that demand for Bitcoin fluctuates depending on the date.
During backtesting, by selling near the 1st of each month, then repurchasing around the 15th at a lower price, the Redditor asserted they have turned 1 Bitcoin into 15 in just 5 years.
“My insight is that people have the most money at the start/end of a month and least in the middle. They get salaries around the 30th and they have bills to pay around the 15th,” the post read. “Armed with this insight, I calculated it all with Bitcoin historical prices on Spreadsheet from Jan 2015 to Jan 2023.”
The user said they plan to put real money behind this trading strategy, despite acknowledging that liquidity issues could arise once the Bitcoin holdings get too large. They promised to report back in 5 years on whether the trading bot actually delivered the returns suggested by historical backtesting.
The Redditor’s claim elicited skepticism, with many dismissing the
Read more on cryptonews.com
