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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

‘Wolf Of Wall Street’ Advises Crypto Investors To Hang On To Bitcoin And Ethereum

Sarah
Sarah
1 year ago
2 mins read
Crypto Wolf of Wall Street Advises Crypto Investors To Hang On To Bitcoin And Ethereum

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The year 2022 has been a very rough one for Bitcoin and the general crypto market. In the initial 11 months of the year, BTC declined by about 65%. Then, when it appeared that BTC gained stability at the $20K price mark, the FTX contagion broke out.

The adverse event has brought the leading coin, Bitcoin, down by around 75% from its peak price of $68,789. BTC currently trades at $16,823.

Wolf of Wall Street Advises Crypto Investors To Hang On To Bitcoin And Ethereum
Bitcoin shows a decline on the chart l BTCUSDT on Tradingview.com

Notwithstanding, Bitcoin is still more promising than the rest of the altcoins. Therefore, several experts still believe prospective crypto investors can opt for BTC now, as it projects a positive future.

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As for the Ethereum token, its price change in the past 24 hours is -1.94%, with a trading price just above the $1,200 mark. Ethereum is also believed to be profitable in the long run, given its transition to 2.0 and potential to revolutionize the web.

Bitcoin And Ethereum As Profitable Investment Options

Meanwhile, a recognized stockbroker, Jordan Belfort, has expressed his thoughts concerning the profitability of Bitcoin and Ethereum. In his comment, he stated that both digital tokens are the safest to venture into.

He admonishes crypto investors to get into the ecosystem with little capital. This is because of the unpredictable risks and volatility of these digital tokens.

He further shared some lights on the recent FTX incident. He cited that investors couldn’t identify the scam of the exchange. But this is not a yardstick to disregard investing in Bitcoin and Ethereum.

The stock broker also announced that his BTC holdings are still intact, with more purchases already made. His actions are backed by the belief that BTC will bring a huge ROI in a decade or less.

‘Wolf Of Wall Street’ On Crypto Adoption

Belfort, also known as the “Wolf Of Wall Street,” shared information on his past dealings. At the time, most of its dealings were connected to the fading “Great Fools Theory.”

This theory proposes high prices due to the overpriced securities sold to so-called greater fools. Such transactions occur regardless of the securities’ value and continue until the market is devoid of greater fools.

The name The Wolf of Wall Street was inspired by the popular 2013 movie – The Wolf of Wall Street. It’s a movie written by Terence Winter and directed by Martin Scorsese. Its storyline centered on Jordan Belfort of 2007, who displayed great passion as a stockbroker in NYC (New York City), United States.

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Getting into 2021, the stock broker observed the rapid development of Bitcoin and eventually opted in. During the period, Belfort had hoped that the price of BTC would surge to $100K before 2021 wrapped up. His reason was based on the fixed max supply of tokens, which has remained at 21 million coins.

Although the expectation was never met, his hopes are still high, which is evident in how he speaks highly of the coin. According to him, investors should not expect Bitcoin to yield sudden profits. Instead, it’s better to venture into the coin with a long-term mindset to make the most out of it.

Featured image from Pixabay, chart from TradingView.com
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Sarah
Sarah

Sarah

Sarah is a journalist who continues to share her passion for writing through her writing in DeFi, FinTech, and Cybersecurity.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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