Shrem recommends that the participants of the cryptocurrency market stewards of bitcoin
Bitcoin enthusiast Charlie Shrem believes that a new cryptocurrency investors should not pay excessive attention to market volatility, instead choosing asset large cap and tuning in to long-term storage.
In an interview with Yahoo Finance on the conference MoneyShow in San Francisco Shrem said: “You invest the money, and then something goes wrong. Prices fall by 90%, prices rise by 100%. I always tell people if they want to invest in the cryptocurrency: “How much money you are willing to lose if it happens right now?” “$500″, they say. Then put $500 in a basket of cryptocurrencies, and then just enjoy. Have fun, learn. there are several good options: bitcoin, Ethereum, Dash, Litecoin. Just find out what makes them stand out”.
Shrem also advised budding crypto-investors to focus on five-year investments because the probability of a successful outcome of their transactions will be higher. This is because the bullish and bearish cycles in the cryptocurrency market usually continue 1-2 years, he explained.
In July 2016, Shrem was released after in 2014, he was accused of selling bitcoins to users of the defunct illegal trading site Silk Road. At the time of his arrest, Shrem was the founder of the cryptocurrency exchange BitInstant, which at the time accounted for 30% of transactions with bitcoin.
After the liberation Shrem co-founder of educational crypto-Crypto startup.IQ. Shrem admits that the cryptocurrency industry has undergone significant changes since the closure of BitInstant, however, in the rapid growing popularity of a new class of assets, he sees no threat to the continued existence of bitcoin.
“There is 1,600 coins, which use advanced methods of promotion. They perform the basic work which cryptocurrencies were engaged from the early days of its existence. They attract people who intrigue them. Bitcoin will always be “daddy”, a long-term gold, in which all investing huge sums. You will find that over time, the volume of bitcoin transactions will fall, because people will consider it as a means of accumulation, knowing that if he fails, all the other cryptocurrencies will suffer the same fate. Certainly, other projects such as Steem, add fun, allow you to experiment and figure out what all was going on,” he added.
Shrem believes that the long-awaited approval bitcoin ETF Commission at the securities and exchange Commission (SEC) will occur in 2019, and recommends that the participants of the cryptocurrency market stewards of this opportunity, because the other they will not.
“We only have “one shot”. If you see a bitcoin ETF, and something happens, we’re screwed. They will close it. You know how difficult it is to run ETF again?” asked Shrem.
We will remind, during the day, the price of cryptocurrency BitcoinDark increased by 400 percent.
Earlier it was reported that the Bitcoin exchange rate has stopped growing and the rest of the cryptocurrencies go to the peak.
We will remind, founder and partner of Morgan Creek Digital Assets Anthony Pompliano earlier this year predicted that before the end of 2018, the price of bitcoin could rise to $ 50,000, but now he is less positive: in his opinion, it is likely to fall to $ 3,000.