Bitcoin just shot up 26% in four weeks… A simple strategy to boost your returns in the next wave of profits… In the mailbag: “Globalism is a losing proposition”…
Four weeks ago, the world’s first cryptocurrency, Bitcoin, was trading at $4,032.
At this writing, it trades at $5,068.
We put this move on your radar in the March 19 Daily Cut, titled “The Most Important Chart You’ll See All Year.”
It was a reference to a bullish setup master trader Jeff Clark had just spotted in Bitcoin’s price chart. Here’s how he explained it at the time…
Given this setup, Bitcoin shouldn’t have any trouble rallying above the first red resistance line at about $4,200. The November high of $4,400 is the next logical resistance level. And if Bitcoin can get above $4,400, there’s not any resistance until way up near $5,500.
That may not sound like a big move for Bitcoin. After all, it grabbed headlines in 2017 for a 1,993% run-up from $960 to an all-time high of $20,089.
But that was before “Crypto Winter” set in.
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After Bitcoin’s dizzying ascent in 2017, it crashed – hard.
From its all-time peak of $20,089 on December 17, 2017… Bitcoin plunged to a low of $3,191 on December 15, 2018.
That’s an 84% fall. And it tested the mettle of even the most hardcore crypto fans.
You see, it wasn’t just Bitcoin that was falling. It was the entire crypto market.
Take a look for yourself. The next chart reveals how the Crypto Winter took the market value of all tradeable crypto assets – the so-called crypto market cap – down by 88%.
This was a challenging time for crypto investors.
And it shook a lot of “weak hands” out of the market… In other words, folks who lacked the conviction to stay invested through all the negative news and price drops.
With Bitcoin prices now surging, winter is now losing its grip on the market… and spring is here.
And according to world-renowned crypto investing expert Teeka Tiwari, that means now is a great time to be adding to your crypto positions.
Here he is with more…
Cryptos are following their usual playbook: People come in… Prices get ahead of themselves… They crash… Everybody thinks it’s all dead and done.
But a year or so goes by. Then, suddenly, prices explode higher again. That’s where we’re at right now – the start of a new bull market cycle.
But here’s what’s interesting about it… Never in the history of this asset class have so many credible players started taking the underlying asset seriously.
You see, some of the world’s biggest corporations are getting involved with crypto right now.
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For years, it’s been mostly geeks and enthusiasts that owned Bitcoin.
And today, there are still fewer than 35 million crypto “wallets” in the world – the digital apps needed to store, send, and receive crypto.
That means less than 0.5% of the world’s population has participated in the crypto economy so far.
But that’s going to change fast.
JPMorgan is America’s largest bank and the sixth-largest bank in the world. Facebook is the world’s biggest social media company. And both are getting involved in the crypto market.
Here’s Teeka again…
You now have JPMorgan Chase launching its own internal digital coin to move capital around, called JPM Coin. It’s not a true cryptocurrency, like Bitcoin, because it’s not fully decentralized. JPMorgan maintains control of the coin.
But the fact that JPMorgan is positioning it as a cryptocurrency will help educate the rest of Wall Street on the benefit of this technology.
It’s a similar story for Facebook…
As we showed you last month, the social media giant is also planning on launching its own crypto coin, Facebook Coin.
This will allow users of Facebook’s messaging apps to send and receive digital payments.
Like JPM Coin, Facebook Coin won’t be fully decentralized like Bitcoin and other true cryptocurrencies.
But Teeka says it will be a crucial tipping point for mainstream crypto adoption nonetheless…
Facebook has nearly 3 billion subscribers that it’ll now have to train on how to use its crypto coin. Again, it’s not a decentralized cryptocurrency. It’ll be under Facebook’s control. But the fact that Facebook is embracing this technology’s terminology – and riding the coattails of the interest around blockchain – is very bullish for the crypto economy.
Facebook will be bringing crypto to mom and pop – a huge global audience that ordinarily wouldn’t be exposed to it. So you’ve got adoption of crypto by mainstream institutions and corporations ramping up… while Bitcoin emerges from a bear market. It’s a wildly bullish setup in my view.
That’s why, as we’ll explain in a moment, Teeka is urging his readers to start adding to their crypto positions.
If you’ve been following the crypto market, you know it’s volatile.
Put simply, an asset that has high volatility – like cryptocurrencies do – is one that goes through dramatic price swings.
Most folks run a mile from volatility. But Teeka says you can use it to boost your returns by cutting what Wall Street types call your “cost basis.”
That’s how much it costs you, in total, to own a particular asset. The lower your cost basis… the better.
You can lower that cost by adding to your existing positions at lower prices. And with the crypto market where it is right now, you don’t have to commit thousands of dollars to do that. Teeka…
Because crypto prices dropped so low during the bear market – in some cases by as much as 90% – you can scoop up assets on the cheap and really drive down your cost basis.
You could increase your dollar investment by 10% or 20% and yet double or triple your position size in some cases. So you can “double-down” without significantly increasing your risk.
That way, you’ll be putting just a few hundred dollars at risk. But it could put thousands back into your pockets when the market rebounds.
Just remember to follow the risk management advice Teeka shares with his readers.
Keep your bets small. Never put your lifestyle at risk for the promise of future gains. Take a long-term approach to each position and fade out the short-term noise around price swings for cryptos you already own.
As Teeka says, the crypto market offers you the chance to take a modest grubstake and 10x… even potentially 100x your money.
And it is.
But as Teeka’s paid-up subscribers know, he has a proven track record of doing just that.
He added the first crypto to the model portfolio at Palm Beach Confidential in April 2016.
And even after the long and painful Crypto Winter we’ve been through, the average gain for Teeka’s crypto recommendations is 237% at writing…
…while the top open recommendations in the model portfolio are up 1,077%… 1,695%… and 8,466%.
With the Crypto Winter in the rearview mirror… and the world’s biggest corporations leading the next phase of crypto adoption… there’ll be plenty more gains like this on offer for folks who use this opportunity to buy.
Daily Cut regulars know Legacy Research cofounder Doug Casey doesn’t mince words…
And on Friday, he told readers of our Casey Daily Dispatch e-letter that “people ought to express themselves in any politically incorrect words they wish.” As he put it…
Then you can find out what a person’s really thinking. You can find out what kind of a person you’re dealing with.
If you limit other people’s freedom of speech, you’re really just limiting your own ability to get information – not just from them, but about them.
And at least one of your fellow readers is on board…
Yes, I agree that the censure of free speech is a detriment to a civil society. I wholeheartedly agree with Mr. Casey that people should be able to speak their mind without worrying about some PC jackboots stepping on their constitutional rights.
– John W.
Meanwhile, the socialism versus capitalism debate continues, after reader Dean G. took a stab at defining each system last Thursday…
Both of Dean G.’s definitions miss the mark because they do not begin with the primal evolutionary engendered human desire, which is to benefit one’s own life.
This lack of basis precludes the discovery of the only true means to benefit oneself, which is that every decision made and choice taken must necessarily benefit all of one’s neighbors if it is also to be of any lasting benefit to oneself.
Note that in the current globally connected society “one’s neighbors” includes almost everyone else on Earth.
– Paul W.
Finally, a new debate may be bubbling in the mailbag… This time between globalism and nationalism, after we put the coming collapse of the European Union on your radar…
Increasingly, it’s about globalism versus nationalism. The rest is smoke and mirrors. Nationalism is my choice. Globalism is a losing proposition.
– Jacques G.
Are you concerned about the rise of socialism in America? Or, like John W., are you more worried about PC culture taking over? Write us at feedback@legacyresearch.com.
Regards,
Chris Lowe
April 16, 2019
Dublin, Ireland