Firstly, I'm not telling you not to buy Bitcoin. I'm not bearish on bitcoin. In fact I did a video recording that bitcoin will surpass $10,000. My advise now is: there are other cryptocurrencies out there. Portfolio diversify for those who likes this kind of investment. Not me tho, as I prefer stuff backed by an underlying asset.
Stuff you need to understand
- Futures market is a Wall Street product; like stock, options, forex etc
- You don't need to own the underlying asset in the futures market ( in this case, BITCOIN )
- Never once in history, Wall Street loses in the long term.
- Bitcoin has bad liquidity ( trading volume is low )
- Bitcoin is not backed by an underlying asset.
- Govt and banks and many others are creating their own cryptocurrencies.
- I can teach you to create your own cryptocurrency. https://www.walletbuilders.com ( don't do it, just proving a point )
I'll start on why you should look at others now. SIMPLY BECAUSE WALL STREET will RIG THE PRICE OF BITCOIN. It's not a free market anymore! Wherever the futures market point too, bitcoin price will FOLLOW! I've never been wrong about this, and when I'm wrong, maybe it will be the 1% of the time. Go check the charts for futures BITCOIN and you will know EXACTLY what I'm talking about.
When Wall Street launch the futures market on bitcoin. That was it. There goes the free market. And I been telling people, repeating this. So.. If you are the cryptocurrency type of person, I hope this article helps and I hope I answered the tons questions out there on my thoughts.