The weekly chart for Bitcoin looks absolute gorgeous, emerging on volume this week from a large cup and handle pattern. I love the symmetrical, neat look to this chart. The lack of any major distribution is also very appealing to me. It seems so long ago when Cryptomania was sweeping across the globe. In 2017, everyone was in crypto and bragging about how much they were making. Now, it's a much different climate and that's something I really love as I don't like to buy into euphoria.
Grayscale Bitcoin Trust (Symbol $GBTC) also allows traders to gain exposure to Bitcoin. I took a position in $GBTC in late September and previously wrote about Bitcoin on my blog in August of this year when I purchased Bitcoin through Coinbase. If you are interested in using Coinbase and would like to receive a $10 sign up bonus, use this link.
Please note that Bitcoin is extremely volatile and prone to large swings. This volatility cuts both ways. Proper position sizing and risk management must be used to deal with these swings in a calm and rational way.
Full Disclosure: I currently own Bitcoin and GBTC.
Full Disclosure: This post contains an affiliate link to Coinbase.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
Commentaires