Bitcoin is a purchase, and there is no suitable time to sell this asset. On Thursday, September 26, said the founder and CEO of the hedge fund Morgan Creek Capital Mark Yusko on the program Fast Money on CNBC.
Yusko recommended buying bitcoin “at every opportunity,” noting that the daily volatility of the price of bitcoin “doesn't matter.” And although the price of bitcoin can rise and fall significantly, annual growth gives good reason to buy, not sell.
He said :
“All network indicators and network costs are growing, and the price of any asset fluctuates.”
Such indicators are the network hash rate , the volume of BTC transactions and the number of addresses. Thus, says Yusko, selling Bitcoin will be similar to selling shares in Amazon – so far there has not been a favorable moment for this.
“Every year, including this year, Bitcoin showed double-digit drawdowns. The average drawdown from the peak to a minimum is 31%, twice it was 90%. When was the right time to sell? Never, ” he concluded.
Publication date 09/28/2019
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