While some have continued to increase their investments in bitcoin because of their confidence, the asset still has a long way to go in its value, noted crypto analyst Alex Kruger. argued otherwise, In one of his Twitter posts published on March 31, the analyst said “no one will ever get rich investing in bitcoin again.”
“It’s not early. That boat has floated. The only people who will get rich from bitcoin are the ones selling bitcoin services,” Kruger said. This has sparked debate and debate among the crypto community as many disagree.
Are The Days Of Investing In Bitcoin Over?
Although Kruger noted that the statement was a social experiment In response to the polarizing statement full of engagement to see, he still stood by his words, “What I wrote is still true. People should no longer buy bitcoin to get rich.”
According to Kruger, BTC is no longer an asset to buy as an investment as the asset has moved away from that category and is now a store of value. The crypto analyst said, “That [Bitcoin] The boat has left. Bitcoin is now for wealth preservation, attractive risk-adjusted returns, trading and hedging against the fiat system.
When another user commented on the analyst’s post expressing his opinion that bitcoin still has 10x potential, especially from the $15,500 area, the analyst said that 10x from the lows “seems possible.” However, not more than the prevailing market prices.
Analyst advice instead of acquiring BTC
While Kruger tweeted his sentiment about bitcoin, the analyst offered some advice that investors should heed instead of acquiring BTC. According to Kruger, investors should focus more on acquiring crypto assets that are more volatile than BTC.
Kruger noted:
The best way to increase returns is not to trade with high leverage, but to trade assets with high volatility. Less liquid caps are more volatile. Microcaps are the most volatile.
The analyst further added that if he were just starting out, he would focus entirely on decentralized finance (DeFi) microcaps because “it is much easier to make 100x on a small account with microcaps than lever BTC trading.”
analyst too Said:
If I were starting over again, I would focus solely on DeFi microcaps. Heavy FA, a little macro (for reference), a little TA (only on BTC, for reference, never on microcaps), as well as coding for better/faster execution. Long, non-level, diversified bets only, no stops.
BTC price is trending sideways on the 4-hour chart. Source: BTC/USDT on TradingView.com
Meanwhile, in the past 24 hours, bitcoin hit a remarkable high and has since fallen by about 5%. As of yesterday, the asset climbed above $29,000. However, at the time of writing, the cryptocurrency appears to be gearing up for another rally, rising by 0.5% to trade at $28,463.
Featured Image from Shutterstock, Chart from TradingView
Source: bitcoinist.com
