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First Magazine Cover Featuring Bitcoin
At the height of the Dotcom bubble, in the late 1990’s, virtually every magazine cover (including non-financial titles) featured some sort of Dotcom company as its main story. One could not stop by a newsstand or bookstore without noticing some story about a Dotcom in their magazine section. So, one of the indicators of where we stand in the stages of a bubble is the amount of magazine covers that feature the specific asset class. As of this month (January 2018), Fortune Magazine will be the first publication to feature Bitcoin in this month’s front cover.
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Now, do not freak out and start selling your Bitcoin, because more exposure will mean more upside. This is just an indication that the bubble is inflating, and we still have a ways to go to reach the peak. After all, this is the first magazine cover to feature Bitcoin, and the cover is from a financial title…which is only natural considering that Bitcoin is currently the hottest financial asset in the planet. So, no need to fret now. Start worrying, when you start to see Bitcoin or cryptocurrencies bombarded all over the magazine stands. If you walk into a Barnes & Noble and see Bitcoin or some sort of altcoin or an ICO featured on the cover of Parenting Magazine, then maybe it’s time to cash out.
Bitcoin Stabilization
With the entrance of the Bitcoin Futures, Bitcoin seems to have stabilized at the beginning of this year. Although going from $13,880 to $16,317 (at the time of this writing) within one week is hardly considered, by most people, to be stable, the current price movement is much more tamed compared to the volatility displayed in Bitcoin during 2017. But, then again, we are only in the first week of 2018. So, there is much to be seen in the coming months.
Most people in the cryptospace want Bitcoin to make big moves so they can make more money quickly. However, I contend that a more stable Bitcoin is good because stability is one of the most important elements Wall Street and the government is looking for when making the decision to adopt a Bitcoin ETF. Regulatory agencies want to see assets that are somewhat “predictable”. And if Bitcoin continues to move the way it did in 2017, we can bet the regulatory agencies would be more reluctant to approve the Bitcoin ETF. However, since there’s reduced volatility, with the introduction of the futures market, we can definitely be more confident of an ETF approval in 2018.
Bitcoin is the “Cash Position” of the Cryptomarkets
If you have been trading in the Cryptomarkets in the past week, you will notice that altcoins have been on a wild run up. Bitcoin moved at a much slower pace compared to its alternative counterparts. This trend is most likely going to continue into 2018. This pattern is showing us that Bitcoin is becoming the “cash position” in one’s crypto portfolio.
If you have ever traded in the stock market, you will know that you have to deposit cash into your brokerage account before you can buy stocks. And if you invest correctly, chances are that your stocks will yield a much greater return that if you had your money in cash. This is exactly what’s currently happening with Bitcoin. It seems as if Bitcoin is the more stable asset now compared to altcoins, as in cash is more stable compared to stocks. As altcoins become overvalued and less certain, funds will return to Bitcoin as a safe haven, just as when stocks become overvalued and out of favor, investors tend to move their allocations back to cash. So, this is one of the trends we can begin to embrace as the young cryptomarkets continue to evolve.