EconomyWhere is the market heading?

The bottom is quite near, smart money piling in
Benjamin RyuDecember 28, 20185 min
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Bitcoin has so far seen a bottom at nearly US$3,000, as we predicted before – and proceeded to rebound quite significantly above US$4,000 right after. While we have heard a wide range of predictions, where some experts predicted that Bitcoin would see US$15,000 before the end of the year, and some even calling for it to fall below US$3,000; the truth is no one really knows where the market is heading in terms of “price”.

For veteran investors, it doesn’t really seem to bother them anyway, since they invested into the cryptocurrency when it was worth nothing. Those who bought at US$20,000 had long sold, but those who bought at US$6,000 probably have not, and are longing to. Experts are predicting that these sellers are expected to represent the last leg of speculators who will dump into the rising Bitcoin market, causing the market to drop again – before rising to all-time highs no one has ever seen, possibly in 2019.

 

Smart money indicates something brewing

It was reported that smart money shorts have been drastically reduced, and although widely unreported, over the counter markets have been heating up with frantic buy orders for Bitcoin. The move is not only limited to Bitcoin, as alternative cryptocurrencies such as Bitcoin Cash and Ethereum surged frantically and almost doubled in value in the span of less than a week since it hit rock bottom.

The smart money people know a value trade when they see one.

 

Decoupling from global financial system

It is also important to note that while there was a short time when these crypto assets were highly correlated with the stock markets of the world – are showing signs of a “decoupling”. On a wider basis, US markets have fallen as much as 20% in recent weeks, while prices crypto assets have been holding strong. This is interesting, as it could turn cryptocurrencies, again into preferred assets to manage risks in this down and trodden market, which some say still has a long way down.

What we can safely assume is that at least for now, cryptocurrencies are held in very strong hands who don’t plan on selling until the next highs are reached. Smart money is holding tight, and with the impending collapse (potentially) of the global stock markets; this might send cryptocurrency prices to the stratosphere!

 

What can you do?

If you haven’t already prepared for the crisis please do. Diversification away from the stock market, global financial assets could be something that could leave you with at least something if the recession kicks into full gear. Cryptocurrencies could be an alternative, or perhaps income generating assets like crypto mining.

Here’s a link to our partner’s page. Do note that we’re not investment professionals, so please study it carefully before deciding.

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