Archive: cryptocurrency
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Bitcoin Is Primed for Continued Growth
By Adam Sharp on April 9, 2021
The crypto bull market is showing remarkable strength. After months of incredible growth, bitcoin is trading in a remarkably tight range — anywhere from $56,000 to $58,000. It looks to me like big players are building positions. If these new institutional investors hold for the long run — and I expect most of them will — this will be incredibly positive for bitcoin’s price stability and long-term appreciation. In the past few weeks, a…
Market Rallies on PayPal Crypto News
By Adam Sharp on April 2, 2021
Towards the end of last week bitcoin was trading around $54,000. And I honestly wasn’t sure which way we were going to break, up or down. I really would have been fine either way. As I said last week, the market needs a…
Keep Your Eyes on Ethereum
By Vin Narayanan on April 1, 2021
Ethereum needs a better publicist. Bitcoin grabs all of the headlines. Yesterday we learned Goldman Sach jumped on the bitcoin bandwagon and will soon be offering bitcoin investment vehicles to its wealthiest clients. BlackRock has quietly begun trading…
Bitcoin’s Fundamentals Remain Strong Amid Correction
By Adam Sharp on March 26, 2021
Today bitcoin is bouncing back, trading near $54,000. Over the last week it fell from a high of near $60,000 to a low of about $51,000. This is nothing to worry about for long-term holders in my view. Actually, it would be good for things to…
Don’t Get Caught Up in the NFT Craze
By Adam Sharp on March 19, 2021
What an amazing year it’s been for crypto investors. A year ago we were down in the dumps, and today we’re flying high. One of the most remarkable recent phenomena has been the rise in popularity of non-fungible tokens (NFTs). NFTs are digital collectibles that are…
Goldman Sachs is on the Bullish Bitcoin Train
By Adam Sharp on March 12, 2021
This week we got a new podcast featuring Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division. He discussed booming crypto demand from clients and what’s driving the move. Bitcoin.com provided a nice summary of the conversation. Here…
Explaining Bitcoin’s Rise From $6k to $56k in a Single Year
By Adam Sharp on March 12, 2021
One year ago — on March 12th, 2020 — bitcoin was trading at $6,131 per coin. It had been valued at more than $12,000 in June 2019. But markets everywhere were in a bit of a panic last March, and stocks were trading…
JP Morgan Survey Shows Institutional Crypto is Growing
By Adam Sharp on March 5, 2021
JP Morgan released an interesting survey this week. It polled 3,400 institutional investors — representing 1,500 firms — about their views on crypto. Here are some highlights: 11% of respondents work at firms that own or trade crypto. 22% said their companies are likely…
Bitcoin Is on the Path to Surpass Gold
By Adam Sharp on February 26, 2021
For now, it appears that our decision to take some profits last week may have been wise. Crypto is correcting pretty hard right now — which is perfectly normal and should be expected. I would be very worried if we weren’t seeing sizable corrections. …
Alert: Taking Profits and Selling
By Adam Sharp on February 19, 2021
Deciding when to take profits in crypto is extremely difficult. Based on past bull markets, we likely still have at least a year to go before things cool off (and probably more based on the unprecedented deficits and money printing today). But I think it would…
How to Take Profits in a Bullish Crypto Market
By Adam Sharp on February 12, 2021
It’s been a beautiful year for crypto. We had a nice dip in March 2020 which turned out to be an amazing buying opportunity. Now we’re seeing unprecedented growth and adoption. Here are just a few of the major companies to jump on the bitcoin bandwagon…
Bitcoin Shows Strength After Correction
By Adam Sharp on February 5, 2021
It appears that the crypto correction is over for now, but I’m glad it happened. We did need to slow down a bit after bitcoin shot practically straight up from $20k to $40k, and altcoins soared. Those kinds of moves are unsustainable in the short term. So it’s…
GameStop Losses: Right Strategy, Wrong Asset
By Adam Sharp on February 5, 2021
A lot of people lost a lot of money in GameStop this week. I feel for them — especially since I have been there myself. As I write this, GameStop is trading at around $66, down from a high of more than $450…
Dogecoin Blasts Off as WallStreetBets Piles In
By Adam Sharp on January 29, 2021
I’m sure you’re all aware by now of what’s been happening with GameStop shares recently. Shares have shot up from under $4 six months back to a high of around $468 this week. GameStop was driven higher by a very clever campaign orchestrated on online forums…
Why This Bitcoin Correction is Normal
By Adam Sharp on January 22, 2021
As I write this on Thursday, January 21st at around 3:00PM EST, bitcoin is currently down 8.3% over the last 24 hours to $32.4k. It’s down 17.2% over the last seven days. Altcoins are mixed, but mostly down as well. But none of that is cause for major…
Long-Term Investing: Stable Returns, Fewer Risks
By Adam Sharp on January 8, 2021
“The single greatest edge an investor can have is a long-term orientation.” -Jesse Livermore I’ve been investing for 20 years now. The first few years were painful ones spent learning lessons the hard way. I tried day trading and picking…