Bitcoin (BTC) Is Reportedly Flashing A Buy Signal
Despite the fact that the crypto market has been in a correction for a while now, the optimistic crypto predictions keep pouring in the crypto space.
Bitcoin is reportedly flashing the buy signal
Now, Mark Yusko, who is a famous crypto investor, just said that Bitcoin is a buy at the moment, even though it fell below $8k.
Yusko said that even if BTC dropped to $5k, it would still be a buy. Yusko is a chief investing officer at Morgan Creek Capital Management.
The man appeared on CNBC and he compared the price volatility and the big bet on Bitcoin to Amazon.
He talks about a key list of indicators that he believes give BTC an upside potential.
“Buy it. Because here’s the thing: the daily price of Bitcoin doesn’t matter. It’s been alive for 10 years. In every year, other than one – 2015 – it’s made a higher low,” he said.
He continued and said, “The market cap has grown every single year. Every fundamental indicator of Bitcoin – usage, wallets, block size, transaction size, number of transactions, every single one – hash rate – making new highs.”
He also explained that all of the indicators of the network and the network value are rising.
“The price of any asset fluctuates. Let’s take Amazon. Amazon has been a public company for 20 years. In every year, including this year, it’s had a double-digit drawdown. The average peak-to-trough – minus 31%, twice minus 90%. When was the right time to sell? Never. Who’s owned it since the IPO to today? Jeff and his mom and his dad. That’s it,” he said.
Bitcoin’s importance is on the rise
Anthony Pompliano delivers some pretty interesting new regarding Bitcoin.
At the moment, the most important digital asset is in the middle of a correction, but this is not enough to stop optimistic predictions from appearing.
Pompliano highlighted the fact that BTC became essential for 1 billion people in India and Hong Kong.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.