I know, crypto again, but , you can understand why!
I have a appetite for following the news & when it comes to trading in the short term, fundamentals & the growth of social media are playing a bigger role, as we sit at home and think about where to spend our money, let’s be realistic, banks at near zero interest rates are not worth us having our cash doing nothing. I have written many times that there is a big difference between trading and investing. Short term speculation has risk, no doubt but more people are trading online like never before.
If you are trading with leverage, you can’t find a more volatile asset pair than BTC/USD at the moment.
Dear crystal ball, what shall I do with #Bitcoin?
My son asked me why I didn’t invest heavily in Bitcoin and I said, “I didn’t really understand it and was very sceptical”. I know, doh! It’s not stopping me from trading the volatility as an underlying asset via CFD’s and with the benefit of leverage. Yes, risk warning.
Where is the price heading?
Not to miss out, I have an opinion…For the first time in a long time, I really don’t know!
My granddad taught me a few things, ok, I didn’t inherit anything in terms of money, but I got some magical proverbs. Shame I can’t cash them in.
One that resonates is that he always said, “you can judge a man by his gait”, in those days it was “man”, today it would be “person”, although I’m trying to translate it from Greek to English, “son, the way a man enters a room and strides around shows you what and who he is, at a glance”.
What am I waffling about? The reason I remembered my old grandad’s saying, was the way Bitcoin is strutting its stuff on the news again today, here, and now.
It is polarising the financial commentators, similar to the way politics has in recent years. Mr Trump.
The problem is, I can’t judge its walk, its stride, its posture, position, pose and more importantly its value and I don’t know what to do.
I’m in so many thoughts, and purportedly have been following it for years, still undecided.
Speculators , commentators & investors are also split, therefore we get the volatility.
At the start, when I was a floor manager and fund manager, I brushed it aside as a risky fad. When it hit 20k and then fell dramatically, I justified my opinion. But, but, but, but it’s a resilient little bugger and its back, won’t go away.
Do I need to give an opinion as to where its price is going? Yes. But I don’t know!!!!!!!!
What I do know is that there are negative and positive headlines out there that are influencing the price.
I often succeed in fathoming fundamentals but this one is genuinely tricky.
Some headlines I am reading on the web as I write: - for and against.
Goldman Sachs Group Inc. is moving beyond the world of Bitcoin and expanding into Ether. Bloomberg.
MicroStrategy Files to Sell as Much as $1 Billion in Shares. Bloomberg. CNBC
Why some cyber criminals are ditching bitcoin for a cryptocurrency called monero. CNBC
Cryptocurrency Latest News Today June 14: Bitcoin leads crypto rally, up over 12% after ELON MUSK TWEET; MSN
Italian Regulator Says Unsupervised Spread of Crypto Is Cause for Concern. Coinbase.
Hedge funds expect to hold 7 per cent of assets in crypto within 5 years. Financial Times
Bitcoin on the Balance Sheet Is an Accounting Headache for Tesla. WSJ
Sorry, still don’t know the end game on this but I have an idea.
I didn’t buy any cryptocurrencies at the start and now I’m confused as to where Bitcoin will end up!
Guggenheim’s Scott Minerd Says Bitcoin Should be worth $400,000, aghhh!