Wealth Articles

BOOK THAT TRIP TO THE TROPICS: Altcoins About To ROCK THIS!

Jul 29, 2019 | Wealth Articles

One month ago, I WROTE that you should not take for granted the gains we’ve seen this year and that it was a time to be taking profits. Distrust in governments, the anticipation over LIBRA, Bakkt, and the ratio of BTC domination all showed me that $13,500 is juicy enough to book gains. Since then, the price has crashed 30%. Many of you sent emails congratulating us on calling the top, but this is only a SHORT-TERM one. In my long-term portfolio, we keep holding, but in my trading account, I’m currently more excited about Altcoins.
 
Bitcoin’s plunge has to do with regulatory resistance, particularly with the highly-publicized congressional grilling of Facebook’s Libra Project manager David Marcus. He held up pretty well, but it was brutal: both Republicans and Democrats were hammering him with questions as if he were a war criminal.
 
And it wasn’t only Congress; the idea was to make sure the public lowers expectations, in general. Both the President and the Federal Reserve Chairman took verbal shots at the cryptocurrency industry. Again, this was unquestionably prompted by Libra, which could potentially introduce cryptocurrency to 2.4 billion people and provide some healthy competition for fiat currencies – especially the U.S. dollar.
 
LIBRA isn’t so much a cryptocurrency; it’s a corporate coin.
 
This is the reason for the aggravated assault on users from the Internal Revenue Service, which took this opportunity to flex their muscles and threaten cryptocurrency investors. In fact, the IRS has started sending letters out to more than 10,000 crypto holders, warning them that they may have broken federal tax laws – and they may subpoena Apple, Google, and Microsoft for access to unreported crypto holdings. It’s fishing, but it will work, nonetheless.
 
U.S. regulators have crypto holders in their sights and the recent price action of Bitcoin reflects this.

Courtesy: CoinMarketCap.com

I heard one commentator predicting a 61% retracement before Bitcoin goes off to the races, but I’m not going to endorse any exact price forecasts – that’s not a winning investment strategy. The Bitcoin pullback is healthy and normal, and part of a sustainable long-term recovery – with the understanding that there may be more short-term pain ahead.

It’s time for the Altcoins to play catch-up, though.

93% Of Investors Generate Annual Returns, Which Barely Beat Inflation.

Wealth Education and Investment Principles Are Hidden From Public Database On Purpose!

Build The Knowledge Base To Set Yourself Up For A Wealthy Retirement and Leverage The Relationships We Are Forming With Proven Small-Cap Management Teams To Hit Grand-Slams!

Bitcoin is getting ahead of itself in relation to other digital assets. The “Bitcoin Dominance” metric has reached an extreme level, with Bitcoin’s market cap comprising nearly 70% of the overall cryptocurrency market cap.
 
Bitcoin reached this sort of dominance in Q4 of 2017. What followed was an 8% fall for Bitcoin; at the same time there was a 248% move higher for altcoins. In other words, we are on the cusp of a fresh Altcoin Rebalancing rally.

Courtesy: CoinMarketCap.com

Don’t take away the wrong message from this – I’m long-term bullish on Bitcoin. 64% of the investing community hasn’t been sold on crypto yet, and 89% of investors say they’d be more likely to invest in Bitcoin if they knew more about it. In other words, there’s plenty of room for growth in this market, which is still in its infancy in terms of adoption.

Best Regards,

Brad Robbins
President, PureBlockchainWealth.com

Governments Have Amassed ungodly Debt Piles and Have Promised Retirees Unreasonable Amounts of Entitlements, Not In Line with Income Tax Collections. The House of Cards Is Set To Be Worse than 2008! Rising Interest Rates Can Topple The Fiat Monetary Structure, Leaving Investors with Less Than Half of Their Equity Intact!

Protect Yourself Now, By Building A Fully-Hedged Financial Fortress!

Legal Notice:
This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.

Please read our full disclaimer at PureBlockchainWealth.com/disclaimer

Trending: Social Media

Facebook


Twitter

First the one, now the others: Facebook’s embattled Libra stablecoin project is in crisis. The dominos have started to fall. Financial backers eBay, Stripe, Visa, and MasterCard have all followed PayPal’s lead in withdrawing their support for Libra.

https://t.co/8VAPn5wlWx

Newmont Owns 18% Of This Junior. Triumph Gold BEST-PERFORMING Stock In North America THIS WEEK!

https://t.co/l0jyRu3fyc

Load More...

High-Priority Reading