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Opinions Keith Richards
BitcoinXBTUSD-CURBUY ON WEAKNESSNov 25, 2024
Keith RichardsStock price when the opinion was issued
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Is very speculative. Offers protection against the USD devaluing. Makes this a small holding.
Richard OrrellIf shorting, be mindful of your costs to carry. There are ETFs that are the inverse of bitcoin. BITI is an example. Some ETFs have leveraged ways to play inversely, and you have to be careful with those ones. There are ones you can buy that go up if bitcoin goes down.
There are some new ones coming out with covered call bitcoin, where you can generate income and put some protection on.
Technically, looks great. Chart shows a huge consolidation zone and then a breakout. If it were a stock, he'd say to go for it. But there's no value associated with the price. The whole idea has a host of issues. Go back to 2018 and look at the chart. So you can roll the dice and buy it, but don't blame him if you lose money ;)
Evolving from this crazy, speculative investment to a real deal. Lots of interest in it. Good rally late 2023, paused, then broke out. Overbought, due for a pullback and then may consolidate. You want to see rallies and consolidation. Don't want to see a breakdown, and there's no sign yet.