Bitcoin has run up extensively since my last video and is now nearing $8,000 at the time of writing this. Bitcoin still has plenty of room to grow as people invest due to FOMO and over excitement for $10k by year end, a target expected by many investors for zero practical reason other than it sounds nice.
Lately I've found more people excited about getting rich off Bitcoin rather than off the adoption of Bitcoin. If you've watched / read my previous content, you know I've been on the fence about whether or not Bitcoin is a bubble. I believe part of the run-up is due to loose monetary policy, which has led to investors chasing performance as all asset classes appreciate in value. I would like to start exploring the subject of the "Bitcoin bubble" even more and come to a final and decisive "yes" or "no" answer. Leaning towards a strong "yes" right now.
In terms of other cryptocurrencies, I remain bullish on Ethereum depending on time horizon of investment. Any level below $300 remains attractive. Litecoin is rising as a result of the first Lightning atomic swap between Bitcoin and Litecoin. As great as this is, I don't see it as all that relevant as atomic swaps are far from being a useable solution for decentralized exchanges that the present value of such events should be small. However, Litecoin has been underappreciated recently against Bitcoin so it's a moot point.
Other altcoins remain attractive as they are still at low levels relative to Bitcoin since its bull run in October. I am looking at TenX now, mostly because the product should help bandaid an important problem for cryptocurrencies in short-term. However, the risk is that they are unable to deliver, so I am keeping my position size small. Hopefully prepaid debit cards are no longer a necessity in the future.
Lastly, expect more high quality content moving forward. I don't want my channel to be about market updates all the time. I want to help uncover methods to value cryptocurrencies, identify risk factors, understand the tech more than most investors, and relay all this information in a concise, laymen format for all of you. This takes more time, but I think it'll be worth it in long run. Hope you all stick around.
If you like my content, you can support me through using ANY of the affiliate links below (I receive small compensation). The beauty of affiliate links is that I can pick and choose what I like rather than have companies approach me - everything I linked below (with the exception of Trezor since I like Ledger), I use myself frequently.
My Recommended Hardware Wallets:
If you want to store your cryptocurrencies safely, the best way is through a hardware wallet. Seriously - look it up and you'll find plenty of information supporting this claim. There are alternatives such as paper wallets, but these are convenient and my choice for cold storage (offline):
Ledger Nano S: http://amzn.to/2hZPj0q
Ledger Blue (expensive): http://amzn.to/2hk7xst
I personally prefer the Ledger Nano S, but the Trezor is such a close second that it really doesn't matter which one you go with. Ledger Blue is premium and convenient, but not necessary.
My Favorite Book for Investing in Crypto:
This book is, bar none, my favorite book for investing in cryptocurrencies. It doesn't bog you down with technical jargon, but instead focuses on all the elements you should understand before you invest.
It's a comprehensive book for both beginners and experts. Beginners will find information about major cryptocurrencies (not just Bitcoin) as well as details on historical market events (that you can draw on for future) and events to watch for moving into the future. Experts will find the chapters on valuation particularly useful. For those of you involved in traditional investing, this book is even more of a godsend as finance info is explored (correlations with other asset classes, ETFs, etc).
My Recommended Exchanges: Coinbase / GDAX / Bittrex
If you sign up to Coinbase using link above, you and I will both receive $10 each after you buy your first $100 of Bitcoin using Coinbase. Coinbase is much less intimidating for beginners. Once ready, move up to GDAX for cheaper or zero fees. For altcoins, I recommend Bittrex.
Legal Stuff: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites.
None of what I provide in my videos is investment advice. Please do your own due diligence.
Seeking Alpha: https://seekingalpha.com/author/truth-investor/articles