The cryptocurrency market is experiencing one of the longest downturns, with investors focusing on a possible price bottom. Amid the lingering market uncertainty, investors are also looking for means to navigate the conditions in anticipation of a future rally.
Indeed, former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort, has previously shared tips on handling the market in phases of high volatility. Finbold has therefore compiled the following keys tips by Belfort on navigating the market correction:
Tip #1: Have a time horizon for Bitcoin of 3-4 years
The investor has maintained that Bitcoin (BTC) is a long-term store of value and can generate returns after at least three years. According to Belfort, Bitcoin has strong fundamentals that make it more attractive in the long term. Notably, as reported by Finbold, Belfort asserted that Bitcoin is bound to keep rising while acknowledging he was wrong on his initial projection of the asset going back to zero.
“If you take a three, four or five-year horizon, I would be shocked that you didn’t make money because the underlying fundamentals, I believe, are really strong, and I just think it’s a matter of time that you know where enough of it gets into the right hands; there’s a limited supply,” he said.
He believes that Bitcoin’s potential will be realized once the crypto sector becomes fully regulated.
Tip #2: Don’t look beyond Bitcoin and Ethereum
With thousands…
