Over the past two months, we’ve seen a stunning rally in bitcoin. It’s gone from a low of $28,000 up to as much as $50,000. That’s a 66% jump.
But I want you to be prepared for the next move in BTC… because we could see more volatility here.
Think about it logically. Any time an asset moves 66% in such a short time… it’s bound to have a pullback. I don’t know how far this pullback will be. But we could see bitcoin retest support at $44,000 or even drop to $40,000.
I don’t know if it will… And no one else does, either.
But I will tell you this: If bitcoin does pull back… it doesn’t matter. Don’t lose any sleep over it. It’s a non-event.
I want you to think of bitcoin as an asset that will eventually be worth a half-million dollars… which I predict it’ll reach within five years. By then, you won’t even notice a $4,000 drop or even $8,000 drop on the chart. It’ll just be a blip.
If you don’t believe me, go back to 2016 when I first recommended bitcoin at around $400… It dropped 38% just two months later, and few more times in the years that followed.
But in a bull market, you’ll see many 30%-plus pullbacks.
These are just speed bumps in the road… Pull up a chart, and you’ll barely notice them.
They look minuscule compared to where bitcoin’s price is today…
Here’s why I’m telling you…
You’ll continue to hear a lot of dumb things said about bitcoin in the press. These people have newspapers to sell. And they’re trying to draw eyeballs to their websites or TV shows. I don’t want you to fall for their clickbait.
The positive news for bitcoin and the broader crypto ecosystem is overwhelming compared to the negative news. If you want to profit from crypto, you’ll have to learn how to tune out that negativity.
The News You Should Pay Attention To
We’ve seen bitcoin and the overall crypto ecosphere face some tough challenges recently – including a ban on bitcoin mining by China and a flawed bill in Congress regarding crypto tax reporting.
Despite these stories, the overall crypto market is up 78% from its recent lows. And crypto adoption continues to grow at a staggering rate.
Remember, the adoption of crypto is tiny compared to other technologies. It’s just 200 million people out of a total addressable market of more than four billion smartphone owners.
But according to fintech analytics company Portfolio Insider, the current bitcoin adoption rate has been outpacing the internet’s user growth rate and will reach 1 billion users in the next four years.
That’s nearly two times faster than it took the internet to reach that landmark.
But what excites me most is the constant flow of Big Money coming into crypto assets. Just over the past few weeks, we’ve seen:
Institutional bitcoin shop NYDIG announce it will enable 650 U.S. community banks and credit unions to make bitcoin purchases available to their customers.
That’s another 250 million-plus in potential new users, or more than worldwide crypto users today.
54 crypto companies have partnered with Visa to enable crypto spending using Visa’s FastTrack program… which is targeted toward integrating fintech companies with the Visa network.
United Wholesale Mortgage plans to accept cryptocurrency payments later this year in an apparent first for the U.S. mortgage industry.
The Michigan-based lender will start with bitcoin but is looking into accepting Ethereum and other cryptos as well.
And AMC Entertainment said it will start accepting bitcoin as online payment for movie tickets and concessions at all its U.S. theaters.
CEO Adam Aron said that the movie theater chain will have the IT systems in place to take the cryptocurrency as payment by the end of 2021.
If companies were shelving their plans to offer crypto, I’d be concerned. But they aren’t slowing down at all.
As I type these words, virtually every major investment bank is opening up its respective customer bases to crypto investments.
According to a survey of 1,100 institutional investors by Fidelity Digital Assets, 70% said they expect to invest in or buy digital assets in the future.
Those surveyed include high net-worth investors, family offices, digital and traditional hedge funds, financial advisors, and endowments.
Here’s what I want to reiterate…
Tune Out the Noise
The mainstream media loves to spread fear, uncertainty, and doubt (FUD) about the death of bitcoin. They may cite a potential collapse in the stablecoin Tether… Or it may be a government crackdown on crypto.
Regardless, I want you to understand if any of these potential issues flare up, they’ll be short term in nature.
But let’s imagine something like Tether is a fraud. What’s going to happen? Sure, the market will sell off. There’s no question about it.
But will a Tether collapse kill the crypto market? The answer is an unequivocal no.
What it will do is give you another buying opportunity. Just like:
The 2000 dot-com crash gave us buying opportunities in tech.
The 2008 Financial Crisis gave us a buying opportunity in real estate.
The 2018 Crypto Winter gave us a buying opportunity in bitcoin and Ethereum.
The 2020 Pandemic gave us a buying opportunity in stocks and commodities.
Will another crypto crash be unpleasant to live through? Yes. But so what? That’s the price we pay to make life-changing gains.
This Is How You Get Rich off Crypto
Friends, when it comes to bitcoin it’s foolish to listen to the media. They’ve been wrong ever since they predicted the death of bitcoin when it was trading for pennies per coin. Don’t listen to them. You’ll regret it.
Over the next five years there’s no asset in the world that will offer a higher compound annual rate of return with less risk and more reward than bitcoin.
So don’t let FUD shake you out of your bitcoin.
I’ve watched for five years as the media has tried to shake you out of your positions – all the way from $400 to as high as $65,000. Meanwhile, I’ve told you to embrace the volatility.
If crypto wasn’t a volatile asset… you wouldn’t have the chance to put $1,000 in Ethereum and turn it into as much as $487,111 as some of my subscribers have done.
I can tell you from personal experience… crypto has changed my life. It’s delivered more wealth to me than when I worked on Wall Street. More importantly, it’s changed the financial lives of thousands of my readers for the better.
Bitcoin is an incredible asset. But you’ve got to hold it… and you’ve got to deal with the volatility.
So I want you to get used to me pounding the table for the next five years. It’s what I have to do to fight through the other voices trying to shake you out of your bitcoin.
Let the Game Come to You!
Editor, Palm Beach Daily
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