Bitcoin Trader Turned $7,000 Into $3M Profit in One Trade

Story by: Michael Monten 

The world of cryptocurrency is full of dramatic stories, but few rival the tale of Michael Monten. At just 20 years old, the London-based crypto trader turned an initial investment of $7,000 into 27 Bitcoin—a staggering $3 million—through a single legendary trade during the infamous COVID market crash. 

Monten’s meticulously planned short on Bitcoin during a critical market downturn catapulted him into the spotlight, inspiring a new generation of traders looking to navigate the volatile world of cryptocurrency. 

The Challenges of Crypto Trading 

Cryptocurrency trading is not for the faint of heart. It is, by nature, extremely volatile. It exists in an unpredictable market. It lends itself to nonstop speculation. In short, crypto trading is a notoriously challenging endeavor.  

During the crash of March 2020, traders faced an even more daunting market. Bitcoin and other cryptocurrencies saw billions in market value erased in record time. Monten immediately identified it as a historic downturn: “This was the most insane crash I’ve ever witnessed in my trading career. A lot of people lost everything that day. But one side has to lose for the other side to win—that’s the game.” 

Many traders hesitated. Not Monten. He remained steadfast. While many skeptics called him crazy for even thinking of shorting Bitcoin, Montent stuck to his strategy. “I believed in my game plan, and it paid off,” he explains. 

A Pivotal Moment 

Like many who thrive in the market, luck plays only a small part in Monten’s success. The devoted trader attributes his success to a combination of rigorous research and calculated risk. “I’ve probably spent around 15,000 hours watching crypto charts,” he says. This dedication to his craft gave Monten the tools necessary to identify key market signals and take decisive action during the crash.  

If Monten’s story sounds familiar, it’s because it echoes the famous events shown in The Big Short. There, unconventional thinkers took advantage of a collapsing market. The difference between them and Monten? Monten’s trade at just 20 years old turned him into a millionaire. “That trade changed my life completely,” he says. 

Lessons for Aspiring Traders 

Crypto traders of all experience levels can gain insights from Monten’s journey. For one, research and preparation are paramount to success. Monten believes that “You have to stay ahead of the market. Crypto trading is about understanding patterns and not getting swept up in the hype.” 

Next, resilience is as important as doing the work on the front end. Monten acknowledges that, yes, myriad challenges make trading difficult. But he is also quick to point to the many rewards that come from perseverance. His $3 million success proves that those who are willing to put in the time and effort stand a legitimate chance of reaping extraordinary rewards. 

Looking Ahead 

Now 24 years old, Monten remains a seeker, always…