April 2021 will be a huge month for crypto in a record breaking year
Unless you've been hiding under a rock this year, and you absolutely might have thanks to covid, you've heard something about the skyrocketing price of Bitcoin and other cryptocurrencies. Bitcoin started the year at $29,000 and now sits at about $58,000. Extend a little farther back and in October 2020 you can see that it was barely above $10,000. This is a gain of 100% for the first 3 months of 2021 or almost 500% for the past 6 months!
With a myriad of examples to choose from, I will mention the well known Caradano (ADA), which started the year at a mere 17 cents and is now $1.18. This is a 600% gain for the first 3 months of 2020. In fact, you can basically throw a dart at a board of the top 100 traded cryptocurrency symbols and chances are that coin has at least tripled in price this year.
Many investors see numbers like these and they think one thing: "What goes up, must come down". They are right. But it's not time to come down yet. Not even close.
The US government and the SEC have fought against allowing easy access to cryptocurrency for years. The federal government doesn't want the dollar to be replaced as the de facto stable currency of the world. The government's constant warmongering and endless printing of money has made this a tough pill to swallow and has ultimately led many nations wishing to divest from the US dollar as much as possible. Bitcoin and other cryptocurrencies are proving to hold value and are quickly becoming a viable alternative to holding gold or the US dollar. Nations are beginning to buy Bitcoin reserves and multiple major corporations, such as Tesla, Paypal and Square, are beginning to switch their cash stockpiles over to crypto.
The number one reason why cryptocurrencies will continue to rise compared to fiat currencies is simple: they have a finite supply. We can have a war or a pandemic and the US government decides to print 2 trillion dollars to fund the president's innumerable golf trips and congress's inability to make a decision on literally anything that will help the general population. This cannot happen with Bitcoin. There are 21 million Bitcoins in total and another one can never be created. Most cryptocurrencies follow this principle and I would advise against investing in any which do not. I promise that if you follow my suggestions, I will never suggest investing in a cryptocurrency in which more can be created.
All that I've mentioned might be great for long term prospects, but why am I so positive about cryptocurrency short term price gains?
1) After denying crypto based ETFs for years, the SEC is allowing Goldman Sachs to start one. You can make your own conclusions as to why they are allowed to have what nobody else has been allowed to, but I will remind you of the revolving door between Wall Street and the SEC. Regardless, Goldman has made it clear that the first clients they will purchase crypto for are their "wealth management" clients. To have a wealth management account with Goldman Sachs your account needs to have a minimum of $10 million for them to play with. In other words, Goldman Sachs believes in crypto enough that they are getting their wealthiest clients in ASAP. What always follows the wealthy's money? The rest of us. They will invest tier after tier of poorer and poorer people to boost the prices on their initial investments so that the wealthiest make the most profit. Once they get the wealthiest in you will begin seeing news articles about how great of an investment cryptocurrency is and how you need to get in right away. While Wall Street has been banned from crypto, there have been endless negative press releases about it. They want to keep the price down so that when they are finally allowed in, it can skyrocket. Now that Goldman Sachs will have a crypto ETF, the door is open and many more are going to flood Wall Street, bringing in potentially trillions of dollars into the crypto market. I say invest before them and make profit on all their investments.
2) You may be afraid that you are too late to invest, but statistically very few people currently own crypto. 25% of all cryptocurrencies are owned by American citizens and only 15% of Americans own cryptocurrencies. On top of this the wealthy have been fearful of investing much money, if any at all, into the crypto market. Much of this has to do with the federal government's stance on crypto which has made it appear to be somewhat of a house of cards. This is changing fast and now that wealthy people are getting in, the corporate puppets known as our elected politicians will begin setting down clear policy, thus opening the floodgates to institutional investment.
3) Visa and Mastercard have begun accepting crypto as payment worldwide. Their crypto payments are essentially like bank accounts with debit cards. For instance, you can get a Visa credit card from crypto.com with which you can purchase anywhere that accepts Visa. Your account needs to hold CRO (crypto.com's native cryptocurrency) and every purchase you make withdraws the equivalent amount of CRO from your account. Like other cards, they have cashback rewards and other big incentives, such as free Netflix and Amazon Prime or access to private airport lounges. On top of that, the crypto.com card gives between 8% and 12% APY depending on what card tier you have. Find a local bank that does that! If you are interested in joining crypto.com please use referral code: abnrt7wyne
Thanks! I appreciate it! Disclaimer: I have a Jade crypto.com card earning 10% APY and am very happy with it :)
4) 1 year after calling Bitcoin a "fraud", Jamie Dimon, CEO of JP Morgan, has stated that all investors should hold at least 1% of their assets in cryptocurrencies. 1% may seem insubstantial, but it is far from it. For years US banks have held to the claim that cryptocurrencies are ponzi schemes and worthless. Why have they suddenly reversed course? It's easy-they have started to invest in it themselves and want to begin drawing interest from outside investors. For years they were afraid of the US regulatory environment, but their wealthy clients saw the recent price gains and want in. That means that the big banks and investment firms will singlehandedly alter what is said by the mass media and how government treats it. Once the wealthy have their fingers in the pudding, crypto will be the best thing to have ever been created and will sit side by side with the wheel and fire as man's greatest achievements.
Anyone who is reading this should know that this is the first Booyah Traders' newsletter/blog and there will be many more to come. Please take time to check out our crypto signals offerings! The next newsletter will be focused on a few cryptocurrencies that we at Booyah Traders believe have tremendous potential to grow this year.