It’s been an amazing few weeks for bitcoin, ethereum and other coins. Interest in these alternative assets is absolutely soaring.
What’s driving all of this? I believe the world’s troubling financial situation is beginning to register with the average investor (you, of course, have known about this for some time). People are starting to realize how serious the debt and deficit situation is throughout the world.
I don’t expect this trend to reverse anytime soon either. Debt will continue to pile up, and reckless spending is likely to continue. Interest rates at or near zero percent is also helping.
In the last few weeks, I’ve had around 10 friends or family members reach out asking about crypto (mostly BTC). This is yet another sign that excitement is building in retail investors. In the past, retail investors (like you and me) have driven bitcoin bull runs.
But this time around institutional investors may well be driving the bus. This could be a monumental change. Institutional investors tend to buy and hold longer than retail investors. They also buy much larger amounts. And that combination can give them a lot of potential influence in the crypto market. If you missed my piece about institutional interest in bitcoin from a few weeks ago, be sure to take a look. The trend continues to look amazing.
I remain extremely bullish. We will likely see significant pullbacks in the future. But I would view those pullbacks as temporary and potential buying opportunities. I suspect we’re headed to all-time highs in bitcoin and other select coins. Nothing is certain. But I definitely like the odds.