Covesting Monthly Performance Review January 2022

The new year started relatively low in the cryptocurrency market. Valuations Bitcoin and other major altcoins fell for most of December and started the year at $ 46 - the decline started from a record $ 000 on November 69 last year.

Regardless of the downtrend, it looks like Bitcoin has hit a bottom and while prices have dropped, there were still big gains from traders copying Covesting. Covesting's strategy managers' high rates of return, which were as high as thousands of percent, meant that their followers following them also made substantial profits. Later in the article, we present summaries and the results of the leaders from the Covesting table, detailing the top 5 traders from the last month.

Understanding Covesting and How Users Monetize

Covesting copy trading module is a huge peer-to-peer trading community that brings together hundreds of strategy managers who allow you to track their investment performance and share them with the entire community base. Hence, followers gain access to information about who invests with what results and which managers can boast good profitability indicators and how they rank in the table against the rest.

The rating system pays attention to the safety and skill of traders based on user feedback, which can help followers make a decision, but the scoreboard is also a good indicator of a trader's success.

Top five strategy managers in January

Looking at the current top five traders on the Covesting platform, you can see that the best trader at the moment can boast a profit of over 2000%. In fact, the top seven saw a capital increase of more than 1000%.

Best Strategy Manager, toootheemooonleads the ranking with a solid result of 2207% of total profits BitPros in second place, it achieved a slightly less profit of 1908%. Toootheemoooon has been operating since September last year and recorded a negative daily balance of only a small percentage and in just one day.

In January Dean's Notes is last on the podium with a profit of 1589%. They took fourth and fifth positions Bills i Cooper with a profit of 1,495% and 1327%, respectively.

Taking advantage of inheritance

Looking deeper into the results of the best traders, we see some similarities between the entire TOP5. Most of them managed to take advantage of the downward trend in cryptocurrencies since mid-November.

For example, toootheemoooon managed to earn 1000% in just the last two weeks. This is a huge increase as Bitcoin's price hit a low of around $ 40.

Bilie is another person who has shown a good sense of the declining market. His profit as of December 9 was only 113% - which is still a good result - but since then he has managed to increase the rate of return to dizzy 1792% in just a few days.

These significant spikes in earnings during a declining market seem to suggest that investors may have traded en masse losses on Bitcoin after the last records of all time.

In fact, toootheemoooon said on his profile that he was "trying to catch reversals in Overweight / Overbought markets." And he actually succeeded.

All of these strategy managers may have their own systems and rules of conduct that they apply to make such impressive profits, but they are also aided by the advanced trading tools at PrimeXBT.

Covesting copy trading is a module only available on the award-winning PrimeXBT trading platform. The platform offers comprehensive solutions - from the ability to open long and short positions, to built-in charting tools and over 50 different trading instruments - all from one account.

What can Covesting Copy Traders expect this year?

Seeing Bitcoin has been declining since it hit the all-time record in November, your eyes are focused on what is to come in the short term, which could dictate further price movements, and what could happen in the next 12 months. It looks like Bitcoin has already hit the bottom and is trying to climb back up. As the price does not fall below $ 40, this is good news for the prospect of rising prices for the remainder of the year. For Copy Traders this is obviously good news because even though they can make money in a falling and rising market through Covesting, rising markets are always more popular. 

Last year, the annual Covesting review featured the story of a trader who was able to earn up to 100% before retiring into a legend. Covesting has gained a reputation over the past year as a module that produces a generation of iconic traders. It is worth remembering that anyone can become a manager, even with a small deposit.