Ep. 335: The Bitcoin Episode with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Volatility of Bitcoin
Bitcoin is really volatile and people should be extremely cautious, especially when it comes to investing in Bitcoin. It can be part of an investment strategy for sophisticated investors who understand high volatility environments. But you do not go into Bitcoin and start treating it like a day trader because it behaves like a very misbehaving penny stock at the moment. If the US dollar is a giant cruise ship and is steady in the water and the various waves don't move it around a lot, Bitcoin is like a zodiac bouncing up and down on the waves. And so some of us would rather be on the little zodiac,. It may be bouncy, but it's not sinking.
Play episode from 38:20
Transcript
