Insights Into Bitcoin – It This The New Preferred Safe Haven Investment?

May 14, 2019

With Bitcoin popping higher the question is being asked if the pop is due to safe haven buying or simply a overdue bounce. Ryan Wilday joins me to share his thoughts on the move higher and where he thinks it could go.

Click here to visit the Elliott Wave Trader site to follow along with what Ryan is talking about.

    May 14, 2019 14:29 PM

    Bitcoin will always have first-mover advantage, but Litecoin and Bitcion cash will outpace advances in Bitcoin as time moves on.

    The reason why the general public is not seriously in the market yet is a question of trust. Many of the exchanges are CLEARLY not deserving of trust, since they work on marginal holdings and mis-report volumes by including volume from other exchanges.
    Because trading is actually thinner than reported volatility is going to be higher than expected by most people.

      May 15, 2019 15:57 AM

      As stated a few months ago, when Bitcoin had crashed from over $19K down to $3K during 2018 and early 2019, it looked like the cryptos would get a corrective bounce higher in the spring and it has arrived with Bitcoin now back up to $8K.

      Most of the smaller alt coins have not really participated yet, so Bitcoin seems to be garnering the global focus, as the leader in the sector, but Ryan made good points about the retail investors, licking their wounds and having been burnt not jumping back in with both feet.

      CFS you made a good point that is also some of the shenanigans with the crypto exchanges also have investors more skeptical this round.

      However, if Bitcoin jumps up above $10K then it may pull the FOMO croud back in for another round.

      If Bitcoin tops out and heads back down soon though, it may be a longer sideways to down consolidation that still needs to play out.