Jordan Belfort, also known as Wolf of Wall Street, continues to recommend buying Bitcoin. And: Great bitcoin news at Beeple!
Former stockbroker Jordan Belfort has changed his mind about Bitcoin in recent years. He now even advises investors to invest heavily in BTC because “in three to five years, BTC should bring profits”. More news: Cathie Wood, star investor in ArkInvest, does not see the bottom (yet) reached.
And we no longer need to mention the gentlemen mentioned above. This is 24/7 bullish on Bitcoin!
Not long ago, Belfort made derogatory remarks about the most successful cryptocurrency – now he’s a big fan! The Wolf of Wall Street, made famous by the film of the same name, was sentenced in the 1990s to several years in prison in the United States for fraud and money laundering.
“If you use an investment horizon of 3 to 5 years, I would be shocked if you lost money. Bitcoin fundamentals are really strong. “
Belfort attracted attention last year when he claimed that Bitcoin would break the $ 100,000 mark in 2021. According to the Wolf of Wall Street, bitcoin is a great store of value and an excellent inflation guard.
Nevertheless, he gives a warning, especially to newcomers. These should be prepared for strong price fluctuations and declines in the future. As Bitcoin is still a relatively “new” asset, a high degree of similarity to the stock market and other investment classes is common.
BTC News: ArkInvest, recession and reserve risk model
In that connection, he at least shares an opinion with Cathie Wood, CEO of ArkInvest. In the latest issue of “Bitcoin monthly”, the investment company predicts a short-term negative trend for Bitcoin. The market is currently in a bad mood, mainly due to the news of Terra Luna’s collapse and the problems with Celsius.
The company considers the all-time high in realized losses to be positive, but at the same time warns of further unrealized losses, which may further weaken the market.
The Glassnode analysis tool shows that about 50 percent of all Bitcoin investors are currently in positive territory. So a stalemate. Compared to November 2021, it was almost 95 percent!
Due to the unclear macroeconomic situation and further bad news, the market could, according to the report, correct further in the short to medium term. Key indicators, such as the US government yield curve, clearly point to a recession.
Also, according to the latest news from Bloomberg, the probability of a recession in the next 12 months has increased to 38 percent.
However, we must mention that the model was often wrong in the past (see 2016).
According to the reserve risk model, however, now is the time to buy more! The model puts confidence in long-term Bitcoin investors relative to the current Bitcoin price. In other words, if self-confidence is high and the price is low, this is a good time to get in.
The green area in the lower right edge of the image marks the best time to buy more. The model mainly uses the Bitcoin sold by long-term investors (Hodler) and the days before that. The basic assumption is that hodlers know the market better than lay people.
Beeple soon with Bitcoin NFT?
American artist Beeple raised a total of $ 69 million at an auction for his NFT “Everydays: The First 5000 Days” last year. Now Mike Winkelmann, whose real name is known, tweeted the following:
Is this possibly an indication that Beeple wants to release an exclusive Bitcoin NFT? Such a one could possibly be a tribute to the last mined Bitcoin!
If Beeple is still optimistic about Bitcoin, we users and investors should not be deterred either. Better days are coming while we just have to do the hardest thing: HODL and rebuy. #No financial advice
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