Today I’m here to tell you that the “smart money” is riding on the new money.
I’m talking about bitcoin.
If you’ve been following my updates, you know that the price of the cryptocurrency has been cartwheeling.
The rising and falling numbers have caused some media chatterboxes to squawk about bitcoin going bust.
But those talking heads are wrong. Dead wrong.
Bitcoin is headed for a boom.
In today’s video, I detail three reasons why bitcoin’s bull market is coming sooner rather than later.
Check out my video below.
Bold Profits Daily
March 12, 2019
Hi this is Paul with your Bold Profits Daily. Today I am going to give you an update on Bitcoin.
If you remember, back on December 20, 2018, I said I am calling the bottom on Bitcoin. While it turns out it wasn’t quite the exact, precise bottom, I think, in general terms, I believe the bottom is in for Bitcoin. It’s really unlikely that the worst-case projections of Bitcoin going to zero, Bitcoin going to 500, Bitcoin going to 1,000 — those scenarios I believe you can just throw away.
If you look at the price chart of Bitcoin you will see this up and down motion that’s going on that I know from my 20-plus years of being on Wall Street what that means: It means accumulation by big money. That’s right, when you see that up and down movement it means that somewhere at the bottom of that range is a big buyer that is willing to buy at somewhere around $3,500.
There’s equally some sellers around $4,000. So, Bitcoin is churning in this range. From everything that I’ve ever seen in trading, that’s the beginnings of what are the seeds of a bull market to come.
There are three reasons why I believe a bull market in Bitcoin is coming sooner rather than later. Here’s the three reasons why:
First, interest rates are once again set to go nowhere. Jerome Powell, who is the head of the Federal Reserve, went on 60 Minutes and said he believed interest rates needed to go nowhere. He felt that they were just right and it is unlikely that we were going to need another interest rate increase.
That, I can tell you, is absolute magic for Bitcoin. Because, in the way I look at it, Bitcoin is digital gold. I believe that Bitcoin is what people of a certain age — definitely the millennial generation, for sure some number of Gen Z generation and even the Gen Xers — this is what they are going to buy instead of gold.
The fact that interest rates are going to stay low means that all of the money that might have been going into savings accounts because interest rates were moving up, some of that money is going to start to flow back into Bitcoin. They’re going to start to absorb more of that supply as it comes in. So, interest rates being low are a critical factor to the comeback of Bitcoin.
Second, the millennial generation wants Bitcoin. I can tell you when I talk to my friends who are under 40 or under 35 they are buying Bitcoin. They have never given up on Bitcoin. They still want to own it. The millennial generation is a very large generation. By some measures it is in excess of 93 million people — and that’s just in the United States.
Bitcoin is a global product and global currency. A global way to store value. There is a large and growing audience for it.
Simultaneously, there is a limited supply. The total number of Bitcoin that can ever exist is $21 million…of which $17.6 million are mined — meaning they are already taken out. That’s about 84% issued, so there’s only 16% of Bitcoin left. About 1,800 Bitcoin are being mined approximately per day.
I can tell you this: This is the perfect setup for a rally.
First, the conditions are right because interest rates, which are a critical factor in people making decisions in what to buy and what to sell, are going nowhere according to the person who sets interest rates in the United States. Which is pretty much the most important interest rate in the world.
Second, there is a large and growing number of buyers who want to buy bitcoin and they are going nowhere. They are still interested. Even an 80% collapse in the price has not scared them away.
Third, there is a finite, limited supply of this.
That means when you have the right conditions, persistent demand and limited supply, at some point the supply of cheap Bitcoin is going to get sucked in. Now when the demand comes in it’s going to push Bitcoin prices higher and higher.
That’s my update on Bitcoin. If you’ve followed me and you’ve been watching you know it’s been choppy. However, I still believe Bitcoin has bottomed. I still believe there’s a bull market ahead. And with Bitcoin’s comeback many other crypto markets will come back as well.
You know that the block chain technology is one of the mega trends that we follow across Bold Profits and across my services. When Bitcoin comes back and crypto comes back, the investments I have been recommending in all our services, they are going to come back too.
If you’re interested to see what those are, check out my Profits Unlimited service where we have block chain as a megatrend.
This is my Bold Profits Daily for you today. The Bitcoin bottom is in, the bull market is coming soon. Stay in. I’ll have another one for you next week. Until then, this is Paul saying bye.
How to Get in on This Blockbuster Opportunity
With bitcoin’s comeback, other cryptocurrencies will come back as well.
If you’re a regular reader, you know these currencies are tied to a major mega trend that we here at Bold Profits follow across all of our services — blockchain technology.
Blockchain is essentially a framework for digital databases that are managed independently of corporations or government agencies.
And it’s a major wave of the future that’s already having a ripple effect on the economy.
That’s all I have for this week. I’ll be back next week with another Bold Profits Daily.
Editor, Profits Unlimited