“Don’t bet on Bitcoin and Gold,” says a verögens administrator
A top asset Manager warns that it is currently the right time for a crypto purchase. In addition, he believes, investors need to look at the often as a safe haven designated precious metal of Gold.
In an interview with CNBC wealth management expert Peter Mallouk of Creative Planning, the current bear market “enticing” investment opportunities attests. Mallouk, however, is of the opinion that the younger Generation have to meet with investment in highly speculative assets incorrect decisions.He warns of the Income forgone by investing in Bitcoin, or other assets such as Gold, silver, and even in the case of Cannabis-stock.
The experienced investment advisors said previously, the Bitcoin is like a “walking dead man”. He believes the bear market offer with companies such as Disney, McDonald’s, and better opportunities for corporate investment.
“It is a lot of sexy, to buy things like crypto-currencies, Gold and silver, to the Investor, but they often bring no income,” says Mallouk . He refers to the many Booms and slumps in the case of crypto-Assets.
In 2017, the Bitcoin reached its all-time high of almost $ 20,000 after a Near-worthlessness in 2009, the BTC came out of the proverbial Nothing. 2018 but crashed the prices and beached at low levels to 3,000 USD. In October, the price of Bitcoin rose again to a High of 14,500 USD before it collapsed in the Wake of the crash in March of this year to 3,800 USD.
Price wars at the weekend, Bitcoin
In the past week, the Bitcoin ended upward trend, the price fell under US $ 9,000. Trigger speculation about 50 of Satoshi Nakamoto-Era mined Bitcoins, which had been moved for the first Time since the year 2009.
Investors apparently fear that the already widespread speculation about the identity of the Bitcoin Creator could have a massive further price slump. It was speculated whether a Nakamoto or someone else has moved the stocks and sales may be planning. About 10 percent of the prices fell at the weekend. The Monday morning trading had its love of effort, the “Flash Crash” behind, in the course of which the prices of the all-time high of 9,900 USD, and later, with only 8.800 US Dollar fell.
Analysts have put the speculation about a sender’s Wallet from the possession of Satoshi Nakamoto, in the meantime, ad Acta. The conjecture, the seller could be one of the “Early Adopter” with a Portfolio of Thousands of Bitcoins, was still panic-driven selling and a price slump.
The Bitcoin price a price may be fight about 9,000, after he had, within 24 hours, a loss of almost 5 %. The problem was that the previous support zone has developed at a price 9.200 USD to the relevant level of Resistance, at times a price of 8.600 USD was the main support level.
Although the crypto-currency was at the time of printing in the area of about 8.880 US Dollar. Receptive to re-return to yesterday’s low point at 8,000 US dollars, the Bitcoin could still be. A price level of 9.200 to 9.400 US Dollar is currently far away. An upward momentum within the meaning of the BTC bulls a big hurdle that separates the course currently.
The Bitcoin is not managed, over 9,000 USD to be fixed, which opened to the potential decline in the door. At least for the case that the prices will not establish, beyond the critical support line at 8.650 dollars.
Already last week we had addressed the immediate support in the range of 8,400 dollars and 8,200 US dollars, if Bitcoin manages to keep a price of 8,600 USD. It is conceivable that the currency is still in control in the may lows around $ 8,000 USD or even 7.400 USD.
