Bitcoin is making headlines all across the world of finance as even high wealth investors are now scrambling to learn more about the top crypto asset and its potential as a store of value. As word spreads of not only the 500% ROI-generating 2020 rally but Bitcoin’s long-term price projections, the asset class has attracted experts from all walks of life.
New naysayers have come out to bash Plan B’s stock-to-flow model, while others discourage believers of the digital gold narrative that’s been building momentum. Adding to the current skepticism over the cryptocurrency’s recent advance, market timing wizard Thomas Demark claims the recent uptrend is “exhausted” and that could lead to a reversal. Here’s why this call is something crypto investors must be cautious about, but also why there’s still hope for the expert to be incorrect based on the tool he created himself.
Bitcoin is no longer an asset stuck in the dark shadows of the internet or the focus of retail investors only. The world of finance, Wall Street, and institutional investors are now paying attention, and the game has changed for the ultra scarce cryptocurrency.