Chris’ note: Yesterday, bitcoin hit a 17-month high. After rising 19% this week from $28,328 to $33,846, it’s now recouped the losses it suffered in last year’s crash.
If you’ve been following along in these pages, you’ll know the rally is based on rising speculation that regulators are close to approving the first U.S. exchange-traded fund (“ETF”) that invests directly in bitcoin.
One way to profit is to buy bitcoin on a crypto exchange and store it in a digital wallet. You can buy today and hold for the long term.
And if you’re looking for an alternative way to profit through your brokerage account, make sure to tune into our Bitcoin Skimming event tonight.
At 8 p.m. ET, trading legend Larry Benedict will be revealing how you can “skim” profits from the big moves in bitcoin we’re seeing, without owning the crypto directly.
It’s free to attend. So, if you haven’t already, secure your spot now. Then read on for more from Larry about why he developed his skim trading strategy… and how it can amplify the gains buy-and-hold investors make.
I’ve long avoided investing in crypto.
I even turned down the chance to buy bitcoin back in 2016.
The hoops I had to jump through to buy bitcoin – opening an account with an online crypto exchange… figuring out how to use a crypto wallet – put me off.
I never doubted crypto’s potential to disrupt the traditional finance system. I just needed to find the right way to play it.
And I’m happy to say I’ve found it.
It’s a way to “skim” profits from the big moves in bitcoin without owning it directly.
And the bigger the price swings, the bigger the opportunity to profit.
Roller Coaster Ride
Bitcoin started the year trading at about $16,000. At this writing, it trades at about $33,846.
That’s a 103% profit.
But it’s been anything but a straight line up.
Bitcoin got a boost with the bank failures earlier this year. Silicon Valley Bank failed on March 10. Over the following week, bitcoin surged almost 48%.
But from mid-April to mid-June, it fell from $31,000 to $24,000. That’s a drop of nearly 30%.
And this volatility – aka price swings – is nothing new.
Over the past five years, it’s up 408%. But over that time, investors have had to stomach drawdowns of 47%… 50%… 66%… even 75%.
It’s why so many people have had trouble hanging on to the gains that bitcoin offers.
You may be surprised to hear me say it. But I’m just as excited by these falls as I am when bitcoin goes to fresh highs.
You see, I’m a trader, not a long-term investor. I can capture short-term moves higher and lower.
And the bigger the moves – either up or down – the higher my potential gains.
I’m just looking for lots of action. And bitcoin gives me that… in spades.
That plays right into the bitcoin trading strategy I’ve been developing.
Introducing Bitcoin “Skimming”
I’ve found a way to profit from bitcoin that doesn’t rely on buying and holding.
You don’t even have to open an account with a crypto exchange… or figure out how to use a crypto wallet.
You don’t have to worry about the crypto exchange you’re using getting hacked or being subject to fraud. And you don’t have to worry about forgetting lengthy passwords and losing access to your crypto for good.
Instead, this is a simple strategy you can use with just your regular brokerage account.
I call it bitcoin skimming because it allows you to “skim” profits from the moves in bitcoin without owning the crypto directly.
I’ve shared this strategy with a small group of my followers, and during our testing, we surpassed the returns of bitcoin itself.
I’ve been able to close out gains of 37.8%… 41.6%… 72%… even 98% on smaller moves in the crypto.
In fact, for every $1,000 you could have made with bitcoin this year, you could have made $22,000 with this new method.
That’s why I want to make sure you’re in the know about this strategy.
And I’ve been preparing my Bitcoin Skimming event to break it all down for you. That way, you can take advantage too.
It’s happening tonight at 8 p.m. ET. And I’d love for you to join me.
Whether you like bitcoin or hate it, you deserve to know how to profit from it through bitcoin skimming.
So, please make sure you don’t miss out by reserving your spot here.
I hope to see you there!
Regards,
Larry Benedict
Editor, Trading With Larry Benedict
P.S. I know for a lot of folks, bitcoin sounds risky. But my goal in recent years has been to find a way to profit from bitcoin without the risk of fraud or crypto crashes.
As my subscribers know, risk management has been one of the biggest lessons of my career.
I went 20 years without a losing year as a trader between 1990 and 2010. That’s almost unheard of. And it got me featured in the 2012 book on the world’s best hedge fund managers Hedge Fund Market Wizards.
And I’m bringing that same obsession about risk to the crypto market. I’ll be explaining it all in more detail tomorrow night… including how to strictly limit your risk on these trades. Here’s that link again to reserve your place.