If you haven’t been following this new asset class worth over $148 billion as of this writing, you should start.
To give you a sense of what I’m talking about, let’s step in the MoneyWire time machine and go back a few years …
See, I first discussed Bitcoin’s explosive potential on Fox News back on July 1, 2014.
If you’d like to see the younger me in action, you can click the picture above or click here to watch the video.
At the time, I noted that “Bitcoin is there for the taking … I’ve become a believer.” The fact that it could become a viable global currency, and act as a store of value, like digital gold, were the main reasons behind my bullish view.
Even though the technology backing it is complicated, Bitcoin’s ongoing allure is simple, really.
It’s a digital form of money that governments cannot control or debase … one we can transfer without the involvement of big, corrupt banks.
For those who don’t place much trust in government or big banks, Bitcoin is a great idea.
Now, if you’d listened to me back in 2014, when the price was still a mere $640.81 per bitcoin, you’d have seen the value of your investment soar to unthinkable highs.
On December 17, 2017, Bitcoin reached its all-time peak — to date — of $20,089, according to Coinmarketcap.com. That’s a run of 3,035% over 41 months!
The price has been on a roller coaster since, falling through much of 2018, only to return strong this year.
I know, I know. You’ve heard Bitcoin mentioned all over the financial news all the time. Mostly, the discussion revolves around the roller coaster-like volatility that’s been with Bitcoin since the anonymous developer(s), known as Satoshi Nakamoto, released it to the world on January 3, 2009.
And in case you were wondering, I’m here to tell you that Bitcoin’s volatility isn’t going anywhere, anytime soon.
But that isn’t surprising. Volatility is the very life-blood of realizing explosive gains in the market.
Volatility is inherent to any technological breakthrough of Bitcoin’s magnitude. The key is investing in ones that later turned into a money-printing engines — think about the internet upstarts like Alphabet (NASDAQ:GOOGL, otherwise known as Google), Amazon (NASDAQ:AMZN), or Facebook (NASDAQ:FB), or early stage biotechs that rocketed into billion-dollar juggernauts, like Gilead Sciences (NASDAQ:GILD), which developed the highly lucrative hepatitis anti-viral drugs.
Let me show you what I mean specifically with Bitcoin.
Bitcoin has seen at least 13 pullbacks in the last six years when the cryptocurrency corrected by more than 30%. And almost every time, it’s come roaring back with larger gains.
Take the 83% dip Bitcoin saw over two days in early April 2013. In November of that year, Bitcoin raged back 191% over a 14-day period.
Year-to-date, Bitcoin has climbed an outstanding 111%, while the S&P 500 has risen nearly 20%.
But here’s the only performance that matters: Since April 28, 2013, Bitcoin has climbed an astounding 6,972% overall.
Long-term investors who didn’t panic at the quick downturns in the crypto markets, and instead held their ground and saw the value of this digital gold as I do, have been rewarded. Big time.
This is a high-risk/high-reward asset, no doubt, and I wouldn’t recommend allocating more resources than you’re willing to lose.
But here’s the thing every investor should know — Bitcoin is about to skyrocket.
I’ve spent countless hours researching the cryptocurrency market since my appearance on Fox News back in 2014. And I can say that you ABSOLUTELY SHOULD have a position in Bitcoin right now.
This cryptocurrency king is poised to soar higher, not just over the long term, but soon, thanks to a catalyst on the horizon that not many people are talking about — at least not that I’ve seen.
This upcoming change to Bitcoin’s supply and demand structure could cause enthusiastic investors to buy what they can, as soon as they can.
In fact, I believe its all-time high will be left in the dust and take its place among the historical markers of past highs. In the coming months, you might be kicking yourself at what could have been … the days of Bitcoin below $10,000 could soon a thing of the past. Don’t say I didn’t warn you.
Your chance to get into Bitcoin when I first called it in 2014 is long gone, but here’s the good news: I see a lot more to come. I’m just as enthusiastic as ever about this opportunity, and you can still make a lot of money. So keep an eye out for more from me soon on this vital topic and why it’s so important that you position yourself now for future profits.
Author: Matt McCall
Source: Investor Place: Bitcoin’s 6,972% Gains Are Only a Prelude