I should note that the portfolio was launched in January of 2020, so this quadruple-digit average return has happened in only about 16 months.
If we take advantage of this decline and Bitcoin does go on to reach $100,000, then today’s bears are going to feel like fools.
When I say “acceptance,” I mean a lot more than just merchants willing to accept it as payment, too.
Safer brokerage houses willing to allow the purchase and sale of Bitcoin, new futures contracts available for trading and more companies adding the cryptocurrency to their balance sheets.
But for millions and millions of people, they are now understanding it.
Now we have well-known companies transacting in Bitcoin and well-known platforms allowing the purchasing, selling and sending of Bitcoin.
Since the basis of the cryptocurrency is a limited amount of supply over time, that really leaves demand as the fluctuating calculation.
In January, a story came out regarding a man who had about a quarter of a billion dollars’ worth of Bitcoin, but didn’t know his password to access those coins.
For now, Bitcoin remains below some of its major moving averages, as well as the $58,500 to $60,000 zone.
On the downside, a break of $52,600 is not a cause for panic.
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