BITCOIN AND FRIENDS
Bitcoin, Bitcoin, Bitcoin.
It’s all the buzz. And why not? Look at this graph. The top of thegraph is just shy of $42,000. You can see a little dip there at the top. Bitcoin is trading at $31,981 as I write this (Monday night, January 25th, 2021).
The number two crypto, Ethereum, has a similar looking graph. Though the top here is $1,331 (I bought at $190).
But while Bitcoin and Ethereum will both likely dip more and then recover and move higher, there are several altcoins that have very promising upside potential. (An altcoin is any cryptocurrency other than Bitcoin).
In 2009, when Satoshi Nakamoto* rolled out Bitcoin and the cyber system to transport it around the planet like a digital dragon fly called Blockchain, it was the only crypto. Today, according to the crypto website www.coinmarketcap.com, there are 6,955 cryptocurrencies.
Wow!
*(Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed Bitcoin, authored the Bitcoin white paper, and created and deployed Bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database.Wikipedia) A simplistic definition of blockchain is that it is the technology that enables the transportation of digital currencies and other financial assets across cyberspace.
Some cryptos represent world class products and services; some are the fantasies of weed-smoking Generation Z programmers.
This is a whole new world of investment. It is full of risks and rewards. I follow it closely and make my recommendations in my newsletter, (https://www.strategicfinancialintelligence.com)
If you want to stay up with the world of cryptocurrency (and precious metal) investments, subscribe to Strategic Financial Intelligence while it is still available at a 60% discount. (The regular price of $249 per year is currently reduced to $99 during these challenging times. I don’t have an exact increase date, but it is coming.)
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Keep your powder dry.
Bruce
As John Truman Wolfe
January 25, 2021