Below is a chart of 3 investments: The Nasdaq 100 Index, an ETF based on the movement of the price of Bitcoin, and a gold ETF.
But Bitcoin and gold have been travelling in opposite directions more than they have been in sync. This is different from in the past. And it adds to the case that Bitcoin is its own animal, one driven more by speculation than fundamental or even “flight to safety” factors. Lately, Bitcoin is acting much more like a leveraged stock ETF than a currency, or a successor to the global banking and “fiat currency” system that some claim it will be. But that doesn’t mean it isn’t a useful consideration for some portfolios.If you have the risk tolerance , Bitcoin’s pros and cons are clear. The pros are evident from some of the temporary price gains.
I think that for now, Bitcoin and other cryptocurrencies are destined to remain as-is: they are proxies for the market’s desire and willingness to take on big risk to pursue big return, especially over short-term periods of time. In that respect, it is something that can be considered as part of whatever set of high-volatility, tactical assets you consider within your research process.
Just do not be fooled: Bitcoin is not a panacea. It’s a trading vehicle, at least for now. And its recent hints of at least a temporary price top, after a strong rally, is likely an indicator of market risk-taking pulling back as well.Comments provided are informational only, not individual investment advice or recommendations. Sungarden provides Advisory Services through Dynamic Wealth Advisors.
Same can be said for the entire stk mkt itself ... volatility is everywhere and the IPOs are a joke ...
Long term investors should keep buying. As long as you keep it as a small portion of your portfolio, you have great low risk / high reward asset class.
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cryptoballoffcl Strong buy signal
Buffet called bit coin rat poison squared
Huh?
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