describes himself as a serial experimenter. He took on
cryptocurrency trading in the summer of 2017 as part of his
practical course in crypto investing. In July 2017 Joe bought Bitcoin at $2300.
In early August 2017, BTC prices hit $3105, then $3,335. This gain was beyond
his 35% stop gap threshold. Not to let the bullish market manipulate his
emotions further, he sold his Bitcoin and reinvested his capital and gains on
But the BTC rally did not stop hitting highs of $19,783 by
the end of that year. Joe did feel like an idiot for switching his assets to
XRP. Good advice however from a fellow investor did calm him down.
on Tight to Your Bitcoin
Bitcoin diehards, however, believe that with BTC trading,
the rules should be a tad different. Unless you are a patient investor and
HODLer, you will lose out on gains. Bitcoin prices have gone as low as $3,930
in February 2019, so unlike Joe Robbins, anyone who bought them at their highest
has been through a tough time financially.
However, currently trading at $5,869, yet another BTC rally
gong has been sounded. Bitcoin price analysts are now speculating that bitcoin
is capable of a rise to $11,500 by the end of the year having broken its $4,500
resistance level. The analysts claim that if BTC breaks the oncoming $5,800
resistance, it will be well on its way to the $10,000 price range. One Bitcoin
bull adds that
“3 years from today, you will regret
not buying bitcoin under $10k.”
Is Behind the Bitcoin (BTC) Enthusiast’s Optimism?
Much of this bullish sentiment is not just pegged to market
analysis but on the exciting happenings around the token. Fidelity Investments,
a Wall Street asset giant, for instance, is bringing its $7 trillion asset base
to Crypto trading. Just as a primer, Fidelity is launching a crypto trading
platform with the intention of assisting institutional traders in accessing
Arlene Roberts, the asset company’s spokesperson, said:
“We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”
Mati Greenspan, an analyst at Etoro, advice that Fidelity’s
Digital Asset Services is going to further financialize and make BTC trading
more robust. He has also stated
that if Fidelity injects a paltry one percent of their cash flow to crypto,
then BTC will probably increase its price by “$1,000, $2,000, easily.”
What about the ongoing altcoin season? Heisenberg Capital
strongly advises against them, saying that they are “doubling down on Bitcoin Maximalism with new capital.”
Heisenberg has funded some of crypto’s largest startups including Shapeshift,
Kraken, and BitFinex and has sounded the death knell for altcoins. “As BTC climbs toward our 2011 target of
$100,000, we believe everything except BTC will die-off”, the firm tweeted.
The post BitFinex VC Investor: “As Bitcoin (BTC) Rally Towards $100,000 Everything Else Will Die-off” appeared first on Ethereum World News.