Did you miss earlier opportunities to get into Bitcoin .. as it traded below $2000 through 2017 … or earlier this year when BTC waffled for 4 months below $4000?
If you missed the runs that followed these lows, cheer up! Another low appears nearly in place.
Bitcoin’s tumble from $13,000 to $8,000 over the past 4 months has increased affordability; and expectations of key market players are for a bottom at $6,000 or higher. So we’re getting close, and if you’re interested in joining crypto adventurers, the starting blocks are ready. The next rise could start at any time and market factors indicate strong potential for a new high, above $20,000. If this next cycle results in another double from here, you’ll have the ability to withdraw your original investment and enjoy a “free ride” from there on.
Signs of a global cryptocurrency transformation are overwhelming and everywhere:
- Venezuela has a fully operational, state-run crypto platform for its oil-backed Petro.
- China is ready to rollout a state-backed cryptocurrency to seven of its banking institutions.
- Bank of England’s governor urged US dollar replacement as global reserve currency - by a crypto.
- Two U.S. Congressmen just asked the Fed to consider creating a digital national currency.
- Marshall Islands is already creating a blockchain-based national currency.
- New Zealand legalized payment of salaries in cryptocurrencies.
- JPMorgan, MasterCard, IBM and Allianz are developing blockchain-based tokens.
- Facebook’s proposed stablecoin (Libra) is before the U.S. Congress for approval.
- Walmart plans to displace credit cards with a “blockchain-protected digital currency.”
Financial institutions are responding to these and other sovereign and corporate developments by launching a wide array of investment vehicles: mutual funds, hedge funds and—just in—Bitcoin futures contracts from Bakkt.
The infrastructure being built around Bitcoin is providing assurance that it is here to stay—and headed for “every institutional investor’s portfolio.” Coinbase CEO Brian Armstrong twittered that his company is receiving $200-400M a week in new deposits from legacy financial institutions.
And the downside? Governments don’t like competition. Applications on the blockchain might be OK, but replacement currencies are a different matter. So TPTB (The Powers-That-Be), i.e. U.N., U.S. and U.K. bean counters are busy crafting regulations. Although they are making progress, they’re also going slow enough to allow major financial players to establish positions.
Since Bitcoin is decentralized, it cannot be shut down. Further, Big Brother attempts to track cryptos put them up against brilliant young male and female crypto developers… Exhibit #1 attesting to the futility of government control is Monero (XMR), which cannot be tracked.
If you’re on (or near) the fence, we strongly suggest setting up a trading account, right NOW. Kraken is one of a number of reputable American exchanges. You’ll need to disclose personal information, but establishing an account is free (it’s called an “online wallet”) and the process will take some time.
Do NOT invest more than you can afford to lose.
There’s lots of help out there. We are among those immersed in this revolutionary development and publish a weekly newsletter which you can view here. Good luck to you!