Institutional Money Is About to Enter Crypto Sector
Institutional Money Is About to Enter Crypto Sector By Teeka Tiwari for Casey Research
Chris’ note: If you’ve been keeping up with the Dispatch, you know that we often turn to Palm Beach Research Group’s Teeka Tiwari for his insight on all things crypto.
For years, Teeka has stayed on top of the latest developments in the crypto world. And he’s made his readers a fortune by guiding them through the twists and turns of the market.
That’s why today, we wanted to turn the reins over to him to explain why it’s not too late to stake your position in cryptos (whether it’s in bitcoin or altcoins)… and why we’re about to see a massive wave of money flood into the sector…
By Teeka Tiwari, editor, Palm Beach Daily
I’ve gotten a lot of mail recently from people wondering, “When will altcoins catch up to bitcoin?”
Before I answer that question, I need to talk about bitcoin…
We’ve seen bitcoin go as high as $14,000 in intraday trading this year before dropping to $9,180. Despite the pullback, it’s still up 179% year-to-date – making it among the best-performing assets in the world.
Now, I’ve been saying since April that the “Crypto Winter” bear market is over. Institutions are coming into the crypto space – and the demand for bitcoin is skyrocketing. This is still the year of Wall Street greed.
So I don’t see bitcoin flopping over and falling apart. In fact, I see it gaining even more strength from its current position.
And this shouldn’t come as a surprise to you. Everything I’ve said about bitcoin is starting to fall into place. For example, brokerage firms like Fidelity and E-Trade will soon allow people to buy bitcoin with the click of a mouse.
Friends, what we’re seeing now is just the beginning. And today, I’ll show you why you should continue to be patient as this massive trend plays out…
Bitcoin Is Still in an Uptrend
As you can see in the chart below, bitcoin is in a major uptrend…
Now, bitcoin doesn’t go up in a straight line; it’s volatile. So trying to predict the next pullback after an 18-month bear market is a dangerous game.