After day two of the recent US Masters Golf, a friend of mine asked me who I thought he should bet on. My answer was somewhere along the lines of “My heart says Tiger, but my head says Molinari”. Shows where rational thinking can get you sometimes…
Luckily, when it comes to calls on a speculative asset like cryptocurrency, you don’t need my opinion to help decide if it’s worth a flutter. Tuur Demeester’s head and heart have been in Bitcoin for many years and he has been writing informative reports on the leading cryptocurrency since 2012. His latest report is here and I highly recommend you read it.
Although a little technical at times, the main points are quite clear:
- Big investors (whales) are accumulating Bitcoin
- We’ve seen this kind of bear market scenario before
- Smart investors don’t try to buy the exact bottom, they accumulate when they know they are around it
- Lower prices and shocks are still possible
- Bitcoin expected to trade in a range of $3,000 – $6,500 before the next bull market breakout
Obviously I’m not saying you should be putting all of your savings into crypto, but given the potential for returns it’s worth considering a small allocation of money you can afford to take risk on.
Disclaimer: This should go without saying, but the information contained in this blog is not investment advice, or an incentive to invest, and should not be considered as such. This is for information only.
One thought on “Bitcoin – Are you Accumulating?”