Photo by David McBee on Pexels.com

Bitcoin at All-Time Lows: Time to Buy, Says Bitcoin Experts…

Time to Buy Bitcoin?

Video Transcript of Bitcoin and Cryptocurrency Experts Being Interviewed About The Recent Bitcoin Crash

00:05
Wall Street traders know it, day traders know it, even pokemon card traders know it.

00:09
So, why do so many people not follow the simplest investment advice of all: buy low, sell high.

00:15
The short answer is simple; people panic and when they panic, they do irrational things.

00:21
Despite the fact that crypto is intended to be a disruptive technology, its story has…

00:25
played out much the same way as other markets; unsophisticated investors rushed in on the…

00:31
December/January highs, then got burned when Bitcoin crashed.

00:36
Sentiment now is very negative and the market is bearish, but one question remains, should…

00:40
you get in now while the price is relatively low or avoid Bitcoin like the plague?

00:46
We spoke to experts Ronnie Moas, Tom Lee, Willy Woo, Naeem Aslam and Mati Greenspan…

00:51
to explain the panic, and asked them if now is a good time to buy Bitcoin and even go…

00:56
from complete no-coiner to hodler.

01:02
So first of all, we have to take this into proportion.

01:06
What we see here is very small so far, especially in comparison to what we see here.

01:12
So we’re seeing a little bit of volatility creep back into the market.

01:17
But you know we’ve become…we’ve grown complacent all of that time when Bitcoin was…

01:22
trading flat.

01:24
Why did the volatility come back in?

01:28
So, basically we had a breakout of the level of six thousand dollars per coin.

01:33
That level had been building up for quite a while and providing support to the market.

01:40
And once it was broken, there was a…there was a chain reaction of stop loss levels that…

01:48
had gotten triggered basically all at once and that type of price action has a way of…

01:55
perpetuating; fear starts building up and then people say, oh! it’s because of the Bitcoin…

02:01
Cash hard fork.

02:02
Oh it’s because of the SEC; oh, it’s because of Tether.

02:06
All of those stories add to the fear.

02:10
But really, what we’re seeing is simple technical breakout to the downside and not a break of…

02:17
the crypto industry which is very strong at the moment.

02:19
The stock market is also getting hit really, really hard.

02:23
Half of the names on the S&P; 500 are down between 25 and 50% since January.

02:29
So, it isn’t only the crypto market that’s getting hurt; it’s the stock market.

02:33
Also as far as the crypto market goes, we’ve been down this road before.

02:39
We have parabolic moves, and 80% corrections every couple of years; and every time we have…

02:46
a parabolic move, we knock out the high from the previous cycle.

02:50
I don’t think the parabolic move that I am expecting next year will be any different.

02:57
If you look back on the history of crypto and the stock market, people that sold at the…

03:03
bottom of a crash ended up regretting it shortly thereafter; people jumped off bridges.

03:12
In 1929 when the stock market crashed, they did the same thing, in 1987, 2002 and 2008.

03:19
The people that bought that panic did very very well for themselves, and I believe anybody…

03:25
that buys this panic in the crypto market is going to do very well for themselves.

03:30
I can’t justify the gold market at seven and a half trillion dollars trading at one hundred…

03:37
times where Bitcoin is today and 60 times what the total crypto market cap is today.

03:44
We are at the beginning of this game; we are in a price discovery phase.

03:49
There are weak hands getting shaken out.

03:52
People who’ve never been in a situation like this before are acting as if Bitcoin…

03:58
is going to zero; I don’t think that’s happening.

04:02
We have two different major factors which is playing into the market.

04:08
Number one is a Euro regulatory issue, and that is a huge one.

04:12
Everyone knows that because regulators are not friendly.

04:16
And as long as they maintain the same stance, then that we aren’t going…we won’t see that…

04:23
huge rally for Bitcoin, and we all know that.

04:26
The second element that I’ve said many times in any of the articles that I’ve done or any…

04:31
of the public speaking or television is that the main reason that feed their Bitcoins or…

04:39
Bitcoin Cash or anything of that nature is being used is that there’s a limited supply…

04:46
of it.

04:48
But now we have this element of one fork another fork and another.

04:54
Remember Bitcoin Cash is a fork of Bitcoin.

04:56
Now we have a fork coming out of the Bitcoin Cash.

04:59
We continue to increase the supply this is not really a good sign for the industry.

05:04
When you are going out there and then you say you know what the entire supply is actually…

05:09
limited to this amount.

05:10
But then you create another fork and then you create another fork.

05:13
I think this goes against the major core elements and core values of it.

05:18
Global markets are down more than 10% between October to November.

05:22
And while crypto actually…initially had a negative correlation, in the last six weeks…

05:27
has flipped to one of the highest levels of correlation to global markets.

05:31
So I think the macro meltdown actually finally, hit the crypto market, and I think that contributed…

05:35
to essentially panic selling.

05:37
I believe very strongly that the market or the crypto market recently has been driven…

05:42
a lot by the technicals rather than the fundamentals.

05:46
So…meaning what we’re seeing is price action which is influencing sentiment and not what’s…

05:52
going on in the news.

05:56
I think the key psychological levels are breaking as we’ve gone below the 6000, 5000, and 4000.

06:04
Now the big one is at three thousand and after that, two thousand five hundred, but I think…

06:09
we are not far off from finding a bottom.

06:12
I think this is where you start preparing yourself; it’s Okay now to start rubbing your…

06:19
hands because everything is so cheap, and then I’m about to jump into the industry.

06:27
I believe.

06:29
That the smart people bought Bitcoin at 9000, 8000, 7000, 6000, 5000, and four thousand…

06:38
so their break-even point on the averaging down the last few months is somewhere around…

06:43
six, seven thousand dollars.

06:44
If Bitcoin goes back to twenty thousand, they tripled their money. OK!

06:48
And that is usually what happens when markets collapse, just like what happened in the stock…

06:54
market 10 years ago.

06:56
People who added to their positions had conviction, and when the market was going down and capitulating…

07:03
those people did very, very well.

07:04
They made 300, 400% on their money in 10 years and the people that sold in 2008 missed a…

07:12
300,400% move.

07:13
And on top of that, they got out at a loss.

07:17
The problem with individuals is they like to buy high and sell low.

07:21
When Bitcoin was at twenty thousand dollars in January two thousand five hundred people…

07:27
signed up for my service at the top of the market.

07:30
At 4000,

07:32
nobody wants my service.

07:34
You know what, they will call me back when we go back to twenty thousand dollars on Bitcoin.

07:38
They will want to sign up for my service again and that is exactly when the people at the…

07:43
top of the market will dump their Bitcoin on you because people don’t learn from history.

07:49
History repeats itself and if you look back at financial market history, going back 100…

07:53
years the time that people made the most money is when markets crashed and the smart people…

08:00
took advantage of an overreaction and emotional selling that we are seeing right now.

08:07
Well, I can’t make a general statement like that.

08:10
What you need to understand first of all, I’m not always right.

08:13
OK.

08:14
I could be wrong on this.

08:15
That coin could go to 15 dollars.

08:17
Six weeks from now If somebody wants a second opinion from someone who takes the opposite…

08:22
side of the argument as I’m taking, they are more than welcome to listen to someone else…

08:27
but the way I see it, I mean I know a company that is spending one hundred million dollars…

08:34
on mining works right now.

08:36
I think they know where Bitcoin is going.

08:39
Better than the average person who is selling right now.

08:44
So, first of all; relax!

08:47
You know making money with investments is a waiting game more than anything.

08:52
And it’s the same as in the stock markets; it is the same as with any other type of investment.

08:58
You don’t make money when you open or close trades; you make money while you wait.

09:02
I think people need to be patient, but I think one of the most important things that we advise…

09:07
our clients is you know crypto as an investment should really be 1 to 2% of their allocation.

09:13
So that number one, they’re not worrying about it every day.

09:16
But also that’s 2% could become 50% in a decade; it can grow dramatically.

09:24
I think the other thing is to realize that some of the crypto projects are probably hopeless.

09:30
But things like Bitcoin and Ethereum or XRP have staying power.

09:36
And these are the ones where unless you think the protocols actually completely broken, you’re…

09:44
seeing price distortion caused by panic selling.

09:48
Well, this is the simple math of long-term investing that If you look at the equity markets,

09:56
it’s the only time you actually earn better than historical average returns.

10:00
So, the stock market has returned roughly 7% a year.

10:03
The only times you earn better than 7% is when you buy in a bear market.

10:08
So for instance, if you bought the S&P, in October 2008 at eight hundred, it still went…

10:14
down another 200 points for six months.

10:17
Right? So, in the short term, we lost money.

10:19
But,

10:20
S&P is now at twenty-eight hundred.

10:22
A lot of people waited till the S&P went to sixteen hundred which was a new high to buy…

10:26
it.

10:27
They made a lot less money in that person that bought it at a low.

10:29
So to me, crypto is exactly this moment that Bitcoin may have a downside in the near term…

10:34
but does this change the fact that it’s still the earliest days of crypto and it’s about…

10:39
to become an emerging asset class.

10:41
Well, those are going to carry much higher prices.

10:44
So the fact that we’ve had some volatility recently I believe that the institutional…

10:50
players the more experienced people and investments are actually coming in right now and seeing…

10:55
this as as an excellent opportunity to buy in at cheaper levels.

11:00
Whenever there’s a panic of this momentum, it is almost certain that we are close enough…

11:09
to bottom and then this is what I have said before as well.

11:12
So, we are very close to finding that bottom wherever than bottom lines.

11:16
And one thing is for sure only a few less than 1% would be able to cash that bottom.

11:22
But, I think now is the point where you start preparing yourself and be in a position to…

11:27
start participating.

11:28
So, Bitcoin has gone through various boom and bust cycles over the course of its short history,

11:35
and a lot of the time we see bull cycles where we see the market going up by 1000%, 10,000%

11:43
in a single year or even within a few months.

11:47
And then after that type of growth, you generally need to see a pullback as you mentioned during…

11:53
those times during those periods of growth.

11:55
You do get a lot of newcomers into the market and then after that during the retracement…

12:02
and then the relaxation period.

12:04
This is an excellent time for people to up there knowledge to learn more about the industry…

12:11
learn more about crypto assets; learn more about how things work and then you know during…

12:17
the next…the next great rush, they’ll actually become the experts and be able to teach all…

12:23
of the newcomers at that time.

12:26
So, this is what we’ve seen play out many times in the past and very likely that can continue…

12:33
until we reach full adoption.

12:35
I think Bitcoin is going to do very well next year.

12:41
If anyone is even worried that Bitcoin could go down in the next few months, it’s possible…

12:47
It doesn’t change the fact that adoption is going to grow and that we have institutional…

12:53
investors that will have opportunities to invest.

12:56
And, I think that you want to be in front of that investment wave.

13:00
So, I think 2019 is a great year for Bitcoin.

Source:

Check Also

Pepsico Image

The PepsiCo Foundation Partners with CARE to Tackle Gender Inequality in Agriculture with an $18.2 Million Investment in She Feeds the World Grant will provide resources and training to 5 million women farmers and their families worldwide to help them increase crop yields and income

News Provided By PepsiCo FoundationMar 04, 2019, 16:05 ET PURCHASE, N.Y., March 4, 2019 /PRNewswire/ …

GDP Growth Slowed

US Economy Starts to Slow Entering 2019, but Headwinds Ease

The Federal Reserve has signaled that it will postpone further interest rate hikes until signs of rising inflation emerge and cease balance sheet normalization activities towards the end of this year. Stock price gains since the announcement of these policy shifts illustrate that if they are executed, business confidence is likely to rise.

Where can I get business financing?

Horizon Technology Finance Provides Investment Portfolio Update Increases Portfolio Size with $24 Million in Loan Originations; Grows Committed Backlog to $47 Million

"During the third quarter, we experienced solid investment activity, increasing the size of our portfolio and expanding our committed backlog for the second consecutive quarter," said Gerald A. Michaud, President of Horizon. "Our success funding seven loans, totaling more than $24 million, and growing our committed backlog to $47 million underscores the strong demand for our venture debt products to growing life science and technology companies. We believe Horizon will continue to benefit from a robust pipeline of investment opportunities and is well positioned to deliver long-term, disciplined portfolio growth, while ensuring credit quality remains strong."

ECB profit increased in 2018

Financial Statements of the ECB for 2018

The ECB’s net profit is distributed to the euro area national central banks (NCBs). The Governing Council decided to make an interim profit distribution, amounting to €1,191 million, to the euro area NCBs on 31 January 2019. At yesterday’s meeting, the Governing Council decided to distribute the remainder of the profit, amounting to €384 million, on 22 February 2019.

Litigation Photo

Immune Design (IMDZ) Alert: Johnson Fistel Investigates Proposed Sale of Immune Design Corp.; Are Immune Design Shareholders Getting a Fair Deal?

The investigation concerns whether the Immune Design board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Immune Design shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given that one Wall Street analyst has a $9.00 price target on the stock and the Company has approximately $100 million in cash and no long-term debt.

Mergers and Acquisitions

Merck to Acquire Immune Design; Acquisition Bolsters Capabilities in Vaccine Development for Infectious Diseases and Cancer

“Scientists at Immune Design have established a unique portfolio of approaches to cancer immunization and adjuvant systems designed to enhance the ability of a vaccine to protect against infection, which could meaningfully improve vaccine development," said Dr. Roger M. Perlmutter, president, Merck Research Laboratories. “This acquisition builds upon Merck’s industry-leading programs that harness the power of the immune system to prevent and treat disease.”

SEC Files Charges in Elaborate Microcap Stock Fraud

“As alleged in our complaint, Magna Group and its co-defendants used fake debt instruments to unlawfully obtain shares in microcap companies, which they then dumped on unsuspecting retail investors,” said Sanjay Wadhwa, Senior Associate Director of the SEC’s New York Regional Office. “This action demonstrates the resolve of the SEC in pursuing fraudsters who use elaborate financing schemes to engage in securities fraud.”

%d bloggers like this: