Bitcoin is ‘dead’ once again
By Justin Spittler, Editor, Casey Daily Dispatch:
Bitcoin is dead.
It’s hard to believe. I know.
After all, bitcoin’s price has surged 2,572% over the last three years. That’s 47 times the S&P 500’s return over the same period.
Still, many in the mainstream media believe bitcoin’s days are numbered.
Just look at what Jim Cramer, host of CNBC’s popular show Mad Money, said a few weeks ago:
I think the tide has turned against it. I’m not saying its time has passed, but there is a notion that the sun seems to be setting.
Cramer said this because bitcoin’s having a rough year. It’s down 55% since the start of 2018… and is now flirting with its lowest level of the year.
But we’ve heard the mainstream media make these sorts of claims before. In fact, it said the same thing in 2011 when bitcoin was trading for just $0.23.
Of course, that was incorrect.
Bitcoin hit an all-time high of $19,783 last December…
That’s a return of 8,601,204% over the course of six years.
That’s a mind-boggling rally… But that didn’t stop the media from pronouncing bitcoin dead hundreds of times along the way.
In fact, Jason A. Williams of Morgan Creek Blockchain Capital says that the media has reported more than 300 “Death of Bitcoin” stories.
If you listened to these talking heads, you would have completely missed out on one of the greatest money-making opportunities ever.
Of course, you don’t come to Casey Research to hear about opportunities that came and went. You want to know how to make money going forward.
So today, I’m going to show you why this year’s cryptocurrency bear market isn’t a reason to panic… but instead is a major opportunity.
I say this because one of the world’s savviest investors has been “investing aggressively” in cryptos during this year’s bear market.
I’m talking about Andreessen Horowitz…
Andreessen Horowitz is one of the world’s best venture capital firms. Its ability to identify groundbreaking technologies—long before they go mainstream—is almost unparalleled.
In fact, the company was an early investor in Facebook, Airbnb, and the ridesharing company Lyft, to name a few.
In short, it’s not a company you want to bet against.
That’s important because Andreessen Horowitz has been buying up crypto assets when everyone else seems to be selling them. In fact, it launched its very own cryptocurrency fund just two months ago called “a16z crypto.”
This fund was set up to invest in crypto and blockchain assets, despite the market’s downfall.
We plan to invest consistently over time, regardless of market conditions. If there is another “crypto winter,” we’ll keep investing aggressively.
“Aggressively” is an understatement. In fact, its biggest position, a project called the DFINITY Foundation, just raised more than $100 million in a private sale to accredited investors.
Andreessen Horowitz isn’t the only big-time investor that’s been investing during this “crypto winter.”
According to CoinDesk.com, blockchain companies have already raised more than $16 billion this year. That’s more than double the amount of money raised in all of 2017.
So don’t worry that many retail investors are obsessing over the price action…
As I showed you, the “smart money” like Andreessen Horowitz, knows that cryptocurrencies are not going away. It’s using the downturn as an opportunity to buy assets on the cheap.
So consider using the current bloodbath as a chance to pick up cryptos at a discount…
It could turn out to be one of the best opportunities to come along in decades.
Just don’t forget that cryptos are highly speculative. So only bet money that you can afford to lose. Don’t chase high-flying cryptos or panic-sell on down days. And perhaps most importantly, have a long-term time horizon.
Also, if you do want to speculate, consider starting with bitcoin. It’s the most established and widely used crypto in the world.
And it could deliver monster gains in the coming years.
P.S. When it comes to investing in bitcoin, we turn to our friend Teeka Tiwari. Teeka is a world-renowed crypto and is considered “America’s No. 1 Crypto Insider.” He’s done this by gaining an unprecedented advantage over almost every investor on the planet…
An advantage that could allow you to make more money from this cryptocurrency bull market over the next few months, than most Americans will make from the stock market in an entire lifetime. Click here to see how.