Some folks were skeptical, but he shut everyone up when he released a complete list of all trades generated by the system - going back all the way to 2016!
After hitting a record high of $73,135, Bitcoin plummeted to about $60,000.
“The leading token by market value has been buffeted by a six-day streak of outflows from dedicated US ETFs. Adding to fears of increased selling pressure, the rehabilitation trustee of Mt. Gox — the Japanese crypto exchange that was hacked more than a decade ago — announced that it would start repayments of Bitcoin and Bitcoin Cash in July,” says Bloomberg.
However, it appears the pullback is overdone.
If you pull up a two-year chart of Bitcoin, it appears to have bottomed out at it 200-day moving average. Plus, it’s oversold on RSI, MACD and Williams’ %R. All which has us believing a bottom may be firmly in place.
And if that’s the case, investors may want to jump into a long Bitcoin ETF, miners, and stocks that benefit from rising Bitcoin prices, including:
The ProShares Bitcoin Strategy ETF (BITO)
If you believe the value of BTC will push higher, you can invest in the Pro Shares Bitcoin Strategy ETF (BITO). With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares.
You’ve no doubt been introduced to Exchange Traded Funds by now. Created in the mid-nineties, they are stocks designed to follow the movement of markets the way index funds do, through the buying and selling of the stocks which make up a particular index.
There are some important differences between an ETF and a mutual or hedge fund however. First, because an ETF trades like regular stock, you can buy and sell them anytime of the trading day, use margin, set stop losses, and watch their trading action tick by tick if you like. Second, there are no rules about how often you can trade them, no annual fees, and no waiting a day or more to get your order filled.
Elite Wall Street trader, Joe Duffy, is allowing a limited group of future-elite investors into his masterful daily trades at thousands of dollars less than what others charge.
When you join today for $1, the first month you'll receive:
Joe Duffy’s daily video newsletter with updates on what's happening in the markets that very day. Rather than watch talking heads for hours on cable, I'll get you up to speed in minutes.
You get weekend updates where I delve more into 'bigger picture' looks at the marketplace. Videos are illustrative, instructive, concise, and un-hedged. No double talk here.
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