My Early Bitcoin Bull Analysis
January 07, 2021
Lead Tech Analyst
I first recommended Bitcoin to my free newsletter readers in June of 2019. Although I was already a proponent of Bitcoin (enough even to attend conferences), I knew it was time to bring the Bitcoin thesis to my readers in the public markets. I was hesitant because it was bold at the time to cover Bitcoin fundamentally for stock investors.
In August of 2019, my technical analyst – Knox Ridley — urged me to release a full-length PDF on the premium site with my target market caps so he could start guiding entries. He was adamant we needed to start guiding entry points because his technicals showed a solid long-term outlook.
In celebration of Bitcoin’s rally, we are releasing the premium PDF below and all other research. We are also going to start publicly releasing entries for Bitcoin (see below).
Here’s why you should read the PDF: we are coming up on the first target market cap listed in the report and we have a few market cap targets to go. I’m not saying target price because my analysis, in this case, was tied to market cap. Bitcoin’s price only seems exhorbitant but when tied to market cap — less so. You will find these market caps in the report from August of 2019.
Knox has guided eight entries into Bitcoin on our premium site since we covered the asset 18 months ago. His last entry published only a month ago is already up 86%. His first entry is up 393%. This is invaluable because it always feels like Bitcoin is too high (or too scary!) and yet it finds its legs and rallies again.
Knox is going to start releasing Bitcoin entries and exits for free on his Twitter account. For one, you’ll see how incredibly good he is, especially at Bitcoin because he has been tracking it daily for about two years. Secondly, you’ll be able to gauge the undulations of the crypto market and perhaps feel more confident by following whether Knox plans to enter again or not.
This is the value proposition we offer. After we pick the stocks and enter them, we do not leave people to fend for themselves. We continually find new entries at higher prices with our own money so people can gain confidence in entering tech growth stocks at higher levels (when warranted). How many Bitcoin bulls help you find new entries after they’ve secured low entry points? That’s exactly what Knox does.
Please note — my free newsletter subscribers have gotten Bitcoin coverage since June of 2019 since it was priced at $11,146 or +244%. Our lowest entry on the premium site is at $7563 or +393% and our most recent entry was only a month ago and is up 86%. Even if you missed the coverage in 2019 – I covered it again in June 2020 for my free newsletter subscribers with “Why I’m Stacking Satoshis” when bitcoin was priced at $9304 or up +313% – You can see that despite sideways and even downward movement, I remained bullish and vocalized this.
My goal is to make sure you know that I try to bring really solid opportunities to my free newsletter readers as a tech analyst. My ideas are never recycled — and most of the time — I’m early to a fault.
The point being, I look forward to doing more of the same for you in 2021. Thanks for all of your support this year – I truly appreciate your readership.
I hope you enjoy the weekend!
Bitcoin: Full-Length Premium PDF Analysis
This PDF will help guide entry and predicts that 2020 will be an important year, and thus to establish a bitcoin position in 2019. Below is background information on why the newly-launched Lightning Network is key to bitcoin’s success – something that has not been widely discussed. We also cover the halving of bitcoin to occur in 2020 (and how this affects price), and the potential market cap for bitcoin to help put our price target in perspective.
Sample Technical Analysis from August 13th by Knox Ridley
A more detailed report on bitcoin will follow in the coming weeks. In summary, we see BTC trading to $60,000 plus in the coming years. The fundamental thesis supports the price action on this move, and we will publish this for you in mid-September. The question is – will we have a major retrace before this move, or will we breakout from here, leaving these levels behind?
Bitcoin 3-Part Series
1. Will Bitcoin Make a Good Investment? Part 1: Institutional Adoption
The largest bitcoin conference in the world took place last month in San Francisco with many early pioneers discussing why bitcoin has made a good investment for them and why bitcoin investments will do well long-term. You can view highlights from the Bitcoin conference here.
2. Will Bitcoin Make a Good Investment? Phase 2: Economic Uncertainty
In the previous analysis, we discussed one primary reason that bitcoin will make a good long-term investment, as the price is likely to go up and stabilize once institutions gain SEC-regulated access. Fidelity and the NYSE-founded Bakkt are two examples of platforms that will influence the first phase of bitcoin’s broader adoption. These two platforms have not yet launched, but a new supply-and-demand dynamic will occur when institutional investors can access cryptocurrencies.
3. Is Bitcoin a Good Investment? Phase 3: Bitcoin Mobile Payments
Institutional adoption of bitcoin and economic uncertainty are two phases previously discussed in this series that evaluates if bitcoin will make a good investment. Finding the right entry price is critical for a buy and hold strategy as there is unusual volatility in this asset. Trading bitcoin may be successful for some; however, this series predicts that holding bitcoin until the technology matures is the better option – all of which is dependent on the right entry price for this volatile, yet high-potential asset
Why I’m Stacking Satoshis
Last July, I began covering bitcoin. The premise was based on three phases for widespread adoption: institutional adoption, global economic uncertainty, and mobile payments. With Square’s cash app reporting fifty percent of its payments being made in bitcoin, or $178 million, it’s time to revisit why bitcoin is a transformative technology that is often misunderstood. Square’s report was for the period between October 1st and December 31st, which represented an increase of 50 percent over the prior two quarters.
Highlights from 2019 Bitcoin Conference
Last week, the world’s largest bitcoin conference took place in San Francisco. Despite bitcoin holding a $200 billion market cap in Q2 2019, cryptocurrency conferences receive less press than tech conferences from companies with comparable market caps, such as Oracle World, Dream Force or even Oktane, a conference by a company with a fraction of the market cap that receives ample press coverage.
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