HomeTodays NewsBitcoin [BTC]: Prominent investor issues investment warning; cautions against possibility of bear market
Bitcoin [BTC]: Prominent investor issues investment warning; cautions against possibility of bear market
May 28, 2019
As Bitcoin [BTC] surges in value and marks its new highest every other day, seasoned investors and new users are shadowed by the uncertainty of the coin’s fluctuating value. While the crypto-ecosystem managed to gain some positive publicity after the end of the crypto-winter, the return of cryptocurrencies can be attributed primarily to Bitcoin’s [BTC] impressive growth of 125% in 2019.
As a result of the crypto-boom, several enthusiasts are providing their take on sound investment, most of them hinting at going long in any case. Amidst the bullish requests, Twitter’s prominent investor @CryptoCred, shared his view, contradicting the bullish notion of the investors. His tweet read,
“$BTC looks strong. When Bitcoin is making rapid gains, it becomes harder to outperform it (margin trading, altcoins, et cetera). One of the best plays from the bottom was to do nothing at all. Too much bear market PTSD — it’s okay to just watch your spot $BTC go up in value.“
@CryptoCred pointed out that ongoing rapid gains are making margin trading and altcoins to provide favourable returns on investment. He also warned his followers of an incoming bear market and informed his audience that the best play in such situations is to “do nothing.”
One of his followers was quick to get @CryptoCred’s hint, as he asked,
“I think at this stage managing spot exposure (where to buy dips, take profit levels/where to hedge, moving stops, and so on) is far more important than trying to squeeze an extra few % from the market via alts, margin, and so on Just my 0.02”
While it still remains unclear if Bitcoin is destined to return to its former glory, crypto-enthusiasts continue to display their support. Further, recent reports from exchanges such as Binance and BitMEX signal a steep rise in transaction volumes, as well as the addition of new users every quarter.