Bitcoin is a Must. Do it for your Kids
Being stubborn is one thing, but neglecting that bitcoin is the outperforming asset for 2020 is just crazy. The third halving marked the start of the next cycle, one with less supply available and excess in demand. Do not buy bitcoin for you, but your future generations. Once the price hits $100k you’ll be paying off your debt and securing a prosperous future for your offspring.
- Bitcoin is up +125% Year-to-Date
- Volatility is decreasing
- Longest streak above 10k
- Bitcoin has traded above 16.5k for only 12-days
Add Bitcoin to your Portfolio
For starters, the king is probably outperforming your portfolio, unless you are up +125% Year-to-Date. Not even the Nasdaq 100 can keep up with bitcoin’s pace. Some might think that bitcoin is up for a correction, it may be the case in the short-run, but this is not 2017 or 2018.
Volatility is Decreasing
Even though bitcoin is moving aggressively there seems to be a steady and strong bullish trend. Unlike the stock market, bitcoin’s volatility continues to decrease, and as it matures bitcoin will excel as a safe-haven asset. Being a perfect fit for your portfolio.
110-Days Above 10k
Bitcoin is creating the biggest buy wall above 10k, and the price is above $16,000, so I guess we can keep counting. Not only does lower volatility reduces the probability of steeper drops, but bitcoin’s bullish trend is getting stronger.
Bitcoin’s Price Has Only Been Higher for 12-Days
Bitcoin has broken through almost all significant resistance levels, driven by a strong trend. Bulls put up the pressure in 2017, but this year bitcoin’s momentum is increasing steadily. This means bitcoin is no longer a get rich fast investment, it’s a long-term wealth accumulator.
Looking for a Level to Buy
Trading extended bull runs is not as difficult because you need to focus on key entry points without establishing a specific profit target. If you take a hit, you can HODL and wait.
If bitcoin remains above $16,000 it flips resistance into support. On the other hand, embrace corrections to increase your exposure. It will pay-off in the long run, remember there is weak price action above 16k.