Editor’s Note: If you follow the mainstream media, you’ll find plenty of bitcoin skeptics and naysayers still out there. But what you likely won’t hear from them is that bitcoin is one of 2019’s best-performing assets so far.
In fact, the world’s most popular crypto has surged more than 40% year-to-date. That outperforms oil (39%), the S&P 500 (17%), real estate investment trusts (15%), commodities (12%), bonds (2%), and even gold (-1%) over the same span.
So what’s behind this resurgence? Well, I called up world-renowned cryptocurrency expert Teeka Tiwari to find out…
Editor: Teeka, bitcoin is breaking out to yearly highs. How much higher will it go?
Teeka: A lot higher…
Look, I’ve been saying all along that bitcoin would come back. Remember, it’s a boom-and-bust asset. There’s nothing we’re seeing now that should surprise us.
Every few years, bitcoin drops 80% and then later breaks out to new all-time highs.
And after last year’s 84% drop in value, we’re now on the other side of that volatility—where the big moves will be to the upside, rather than the downside.
Editor: What makes you think that?
Teeka: The technicals. You see, bitcoin just put in a “golden cross”…
That’s when the 50-day moving average crosses above the 200-day moving average. The last time that happened in October 2015, bitcoin jumped 72% by the end of the year.
And if you look at long-term charts of bitcoin, you can see that it finally broke its downtrend line of the last 18 months. That’s very bullish. It tells us we’re at the beginning of a new uptrend.
— RECOMMENDED —
But famous trader Tim Sykes has uncovered a brand-new way of MAKING profits like $8,780, $9,100 and even $15,820 on the weekends…
Without doing any kind of busywork.
Editor: So how high do you think it’ll go?
Teeka: Nearly each and every time bitcoin has broken out of its medium-term downtrend and started a new uptrend, it’s made a new all-time high. That goes for the entire crypto market as well.
Editor: And when do you see this happening?
Teeka: Well, let me check my crystal ball…
On a serious note, though, the key thing I want everyone to understand is the recent technical action suggests bitcoin will hit a new high again.
It could be the approval of the Bakkt platform or an exchange-traded fund—or even a monetary crisis—that’ll cause bitcoin to hit new highs. No one can answer that question just yet.
But if you’re asking me whether bitcoin is in a bullish uptrend and whether I think the downtrend is over… then my answer to both is yes.
— RECOMMENDED —
Did you get the #1 Retirement Stock? (Inside)
For a brief time only, you can watch a replay here.Inside, you’ll learn the name and ticker symbol of “The No. 1 Retirement Stock in America.” You’ll also hear an important announcement Porter Stansberry has waited 20 years to share.
Editor: You said 2019 would be the year of Wall Street greed. That’s when big-money investors would pile into cryptos and push prices higher.
Have you seen any evidence of this happening?
Teeka: It’s definitely starting. I recently read a report from crypto research firm Adamant Capital. And it says long-term holders of bitcoin—the people with the biggest bitcoin accounts—have been accumulating larger positions.
Now, these are the smartest, most well-connected people in the space—and they’re buying up bitcoin. So that’s a bullish sign. Plus, the same report also says bitcoin has the best long-term risk/reward of any liquid asset.
To paraphrase, it said bitcoin’s fundamentals are gaining momentum.
For example, bitcoin is being embraced by millennials, and its ecosystem is developing at a rapid clip. More importantly, it’s becoming an uncorrelated, highly liquid financial asset for institutional portfolios around the world.
And I’ve been saying all this for months now.
As word spreads through Wall Street that even just a 1% portfolio allocation can improve risk-adjusted returns, wealth managers will add a little bitcoin to their portfolios—just like they do with gold.
When that happens, bitcoin will be a multitrillion-dollar asset class.
— RECOMMENDED —
Where Are the 1% Putting Their Money?
An all-star line-up of 36 self made millionaires and billionaires shares stories and lessons from the 36 roads they took to success…
Editor: Despite all the bullish signs, there are still plenty of skeptics out there who think bitcoin is worthless. What would you say to them?
Teeka: Well, they’re the same kind of people who were saying in 2003, “Internet stocks will never amount to anything.”
Back then, internet stocks had just crashed 90% over the past three years. And these critics said the internet was only for cat videos.
Yet, they were wrong. And I believe they’re wrong again with bitcoin.
Now, I’m not saying we should bet the house on bitcoin and cryptos in general. My stance on crypto investing is that you should take small bets across many different projects—just a few hundred dollars is enough.
This way, it’s not a binary bet in which you either lose everything or double your money. Instead, it’s an asymmetric bet where, if we’re right, you can make 1,000% or even 10,000% on your money. And the most you can lose is 100% of a small position.
Editor: And do you have any other advice for crypto investors right now?
Teeka: The price of not participating is much greater than the price of participating right now.
This setup won’t last forever. So I urge everyone to get into bitcoin and crypto in general. And I recommend you do so quickly. Because the tides are turning. And as we saw in 2017, a tsunami of profits can happen very quickly.
Editor: Great. You’ve got me excited as always. Thanks, Teeka.
Teeka: You’re welcome.