Based on the back-and-forth experience in Bitcoin (BTCIf you are interested in investing in the top cryptocurrency, you should take a long-term perspective. according Jordan Belfort is a Wall Street stockbroker.
Speaking on Yahoo Finance’s The Crypto Mile, Belfort opined that Bitcoin investment required a strategy beyond one or two years. He noted:
“If you take a three or maybe five-year horizon, I would be shocked if you didn’t make money because the underlying fundamentals of Bitcoin are really strong.”
Belfort also added:
“With reasonable luck, I think if you take a 24-month horizon you’ll almost certainly make money.”
Belfort, who is now a sales coach, author and speaker, said that it was only a matter of time until BTC became a store value due to its fixed supply of 21,000,000 coins and increased inflation. He said:
“It has a limited supply, and as inflation keeps rising there will come a time when bitcoin will start to trade more like a store of value and less like a growth stock.”
Because of tightened macroeconomic conditions, Bitcoin trading has been on unstable ground. For example, the top cryptocurrency has been struggling with the psychological price of $20K. This is well below the ATH of $69K that was set in November.
According to BTC intraday trading data, it was up 0.56% to reach $20,204. CoinMarketCap.
Belfort believes that Bitcoin’s development contributes to its association with tech stocks. He admitted:
“It doesn’t surprise me one bit that it is doing that and it would be more of a surprise if bitcoin was already trading as an inflation hedge because it is still very nascent.”
Blockchain.News reported that there was a significant amount of investor sentiments and macroeconomic factors that affect both stocks and cryptocurrencies. A recent analysis revealed that institutional investors are the most likely explanation.