At the peak of the market last November, the pseudonymous crypto trader @GiganticRebirth was negative and started betting against crypto market. Here’s how his team of alpha hunters claims to have profited from the subsequent sell-off by shorting cryptocurrencies.

In late November, a crypto trader with the Twitter handles @GiganticRebirth issued a warning to his following of over 85,000 followers.

He wrote, “High confidence interval that we’re very late in the cycle [and that cycles still exist],” he wrote. “Secure your freedom if you’ve won it.”

@GiganticRebirth, also known as GCR (an acronym for Gigantic-Cassocked-Rebirth), claimed he was becoming increasingly gloomy on the cryptocurrency market, which had just completed a 20-month bull run with no indications of slowing down.

While others predicted “a new crypto supercycle” or “bitcoin to $100K,” GCR was plotting a different, contrarian trade: a large short, or a large wager against inflated altcoins, which would result in significant profits if his pessimistic predictions came true.

He claims to have put together a sprinkling of part-time crypto researchers to pull off the trade, from a professional poker champion to a medical student. They communicated their findings in a Discord channel and traded privately.

Last November, GCR claims to have shorted roughly 30 different tokens across numerous platforms. In January, he shared a screenshot of a trading dashboard from the FTX cryptocurrency exchange, reportedly showing large winnings from the gamble.

And, despite his aversion to revealing his actual name, he now wants to share his experience.

In a phone interview, GCR said, “The market consensus is that no one saw this coming,” GCR told CoinDesk in a phone call. “I saw it coming, I took action.”

Also, Read – The 3 Best Bitcoin Wallets of 2022

Over the last 13 years, the cryptocurrency business has produced millionaires who were early adopters of bitcoin and stayed on to the commodity while its value climbed inexorably. Timing these quick market cycles has proven even more difficult in the notoriously volatile realm of cryptocurrency. Indeed, it’s impossible to say whether profitable deals can be repeated in the future.

The crypto market capitalization plummeted from a high of $3.1 trillion in November to $1.7 trillion in late January, nearly wiping off half of its value. The crash began in late 2021 and lasted through January. It’s challenging to break even during a market slump; prospering is even more difficult.

GCR’s story also provides a glimpse into the strange world of crypto markets, where individual traders occasionally band together to speculate on unpredictable asset prices, hoping that their collective assessment is correct.

Almost all the accomplices asked to be identified solely by their pseudonymous Twitter and Discord nicknames rather than their proper names. On the other hand, GCR has a following, as indicated by the high five-figure Twitter following he has amassed in the last year. He routinely appears on the FTX exchange’s Top 100 Traders leaderboard, where users are ranked by profit and loss under the alias Gigantic-Cassocked-Rebirth.