I have uploaded a new bitcoin update podcast for June 4, 2018. Click here to go to the show archives page to listen or you can listen on the link below.
-I hope to present a balanced assessment of bitcoin’s prospects, based on its origins. I am not as sanguine with the alt-coins.
-Bitcoin’s chart and market action mimicked that price and market action of oil in 2008 & 2014, gold and especially silver from 2005 to the present, tech stocks in the late 1990s-2003, and real estate from 2002-2011.
-No one can ever tell where the top will be, but we can gauge the market action to determine when to start unwinding a position. There are usually dead-cat bounces that provide second opportunities to unload.
-We were able to profitably trade bitcoin last year and early this year, because of our experience with prior asset bubbles.
-Don’t believe the crypto shilling of unprofitable mining. The same disinfo was put forth with the gold miners and oil producers. They all adjust to lower prices or are sold in bankruptcy.
-Bitcoin traders and regulators are developing a liquid pool of derivatives against the underlying asset. This shows that the globalists are supporting bitcoin. I cannot make this assumption about any of the alt-coins.