Until then, look out below.
Updated
My outlook on Bitcoin/Crypto has been bearish for the better part of a year now because I thought back then and continue to think now that retail traders and investors have been burned a few too many times on this asset class. The “golden goose” institutional investors won’t step in if they don’t have anyone to sell to - and so the primary issue facing Bitcoin back then and still now is a lack of demand. Looking back my previous predictions were prescient, and I’m posting this now to essentially reiterate my outlook: don’t hold Bitcoin.
Now that the world economy is potentially entering a period of recession, there will be even less demand for Bitcoin. Demand for other asset classes will pick up long before demand for Bitcoin does, and it will be during this period where you may want to consider accumulating Bitcoin. In other words, wait for a new bull market in equities to manifest itself before speculating on Bitcoin again. This may take years. Until then, look out below.
Now that the world economy is potentially entering a period of recession, there will be even less demand for Bitcoin. Demand for other asset classes will pick up long before demand for Bitcoin does, and it will be during this period where you may want to consider accumulating Bitcoin. In other words, wait for a new bull market in equities to manifest itself before speculating on Bitcoin again. This may take years. Until then, look out below.
Note
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