Cryptocurrencies moved up dramatically over the last week. From our portfolio bitcoin was up 25%, Decred was up 49%, XHV was up 45% and NANO was up 17%.
This is what we’ve been waiting patiently for. Those of you who held throughout the crypto winter deserve a round of applause. Congratulations. I know it wasn’t easy, but now we’re likely to be rewarded.
Those of you who got out — it’s not too late to get back in. I think we’re heading much higher over the short, medium, and long-term. We are in the most bullish macro environment for bitcoin I’ve ever seen. High quality altcoins should follow along.
And the importance of institutional investors finally moving into the space cannot be overstated. I believe we’ve begun to see FOMO (fear of missing out) among these big pro investors — and soon we’ll see a scramble to get exposure to bitcoin.
Eventually these institutional investors will dip their toes into altcoins, but for now they are mostly restricted to the larger ones such as ethereum. The rest are mostly too small for them to buy in volume.
The caveat, of course, is that this is crypto, and anything can happen. Don’t risk more than you can afford to lose. There are risks out there — such as governmental action, technical problems and others. However I think these risks are FAR outweighed by the potential rewards. Act accordingly.