While some have continued to increase their investment in Bitcoin due to their belief the asset still has a long way to go in value, prominent crypto analyst Alex Krüger has argued otherwise. In one of his Twitter posts published on March 31, the analyst stated “nobody will get rich investing in Bitcoin ever again.”
“It is not early. That boat has sailed. The only people who will get rich with bitcoin are those selling Bitcoin services,” Krüger added. This has sparked arguments and debates among the crypto community as many have disagreed.
Days Of Investing In Bitcoin Is Over?
Though Krüger mentioned the statement was a social experiment to observe engagement in response to a polarizing absolute statement, he still stood on his words saying “what I wrote still holds true. People shouldn’t be buying Bitcoin to get rich any longer.”
According to Krüger, BTC is no longer an asset to buy as an investment as the asset has advanced away from that category and is now more of a store of value. The crypto analyst noted, “That [Bitcoin] boat has sailed. Bitcoin is now for wealth preservation, attractive risk-adjusted returns, trading, and hedging against the fiat system.”
When another user commented on the analyst’s post expressing his opinion that Bitcoin still has the potential to 10x, especially from the $15,500 region, the analyst replied saying a 10x from the lows “seems feasible.” However, not so much from the current market prices.
Analyst Advice Instead Of Bagging BTC
While Krüger tweeted his sentiment about Bitcoin, the analyst hinted at some advice investors should heed instead of bagging BTC. According to Krüger, investors should focus more on bagging crypto assets that are more volatile than BTC.
Krüger noted:
The best way to increase returns is not to trade with higher leverage, but to trade assets with higher volatility. Less liquid caps are more volatile. Microcaps are the most volatile.
The analyst further added if he was just starting out, he’d focus will be solely on decentralized finance (DeFi) microcaps as “it’s much easier to do 100x on a small account with microcaps than with levered BTC trading.”
The analyst also said:
If I were starting again, I’d focus entirely on DeFi microcaps. Heavy FA, a little macro (for context), a little TA (on BTC only, for context, never on microcaps), plus coding for better/faster execution. Long only, unleveled, diversified bets, no stops.
Meanwhile, over the past 24 hours, Bitcoin has hit a notable high and dipped nearly 5% since then. As of yesterday, the asset climbed above $29,000. However, at the time of writing, the cryptocurrency seems to be gearing up for another rally, rising by 0.5% with a trading price of $28,463.
Featured image from Shutterstock, Chart from TradingView