Based on the back and forth experienced in the Bitcoin (BTC) market, a long-term approach is required when investing in the leading cryptocurrency, according to Jordan Belfort, a former Wall Street stockbroker.
“If you take a three or maybe five-year horizon, I would be shocked if you didn't make money because the underlying fundamentals of Bitcoin are really strong.”
Belfort added:
“With reasonable luck, I think if you take a 24-month horizon you'll almost certainly make money.”
Belfort, who has transitioned to a sales coach, author, and public speaker, noted that it was just a matter of time before BTC emerged as a store of value based on its fixed supply of 21 million coins and heightened inflation. He noted:
“It has a limited supply, and as inflation keeps rising there will come a time when bitcoin will start to trade more like a store of value and less like a growth stock.”
Bitcoin has been trading on shaky grounds because tightened macroeconomic factors have been unfavourable....
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...