I am going to go over some crypto news that is not directly related to NF T's. But it is important for the NFT community.
The NFT market is like a ship on the ocean and the cryptocurrency market is that ocean. If that ocean was to experience a massive 100-foot wave or a Titanic-like an iceberg, then that ship will go down with it along with the NFT space. With that said the cryptocurrency market is still a very highly speculative market. I say right now it is 80% speculation and 20% long-term holders, and those long-term investors are in it for the long run. Short and long-term investors also include institutional investors. And quite frankly, a lot of them are waiting to get out of this market sometime this year by trying to pull the rug on me, you, and everyone like they did in 2017 and 2018. And I'm not making this stuff up. The question is, where are you going to be? do you belong to the 80% or the 20%? And if you are a part of the 80%, then do you have an exit strategy?
If you do not have an exit strategy, I recommend you come up with one, for example, maybe sell some of your NF T's at a particular price target. Please leave a comment below on what your plans are if it's short-term or long-term.
Following up on this conversation, folks like Warren Buffett and Ray Dalio have bashed the cryptocurrency market. Warren Buffett has even come out to compare Bitcoin to rat poison.
Ray Dalio has been on Twitter constantly spreading FUD and if you don't know what that term means, it stands for fear, uncertainty, and doubt. But let us look at Warren Buffett's track record since he is a wise investor.
Our research shows that his portfolio has not even surpassed the S&P 500 which is quite laughable honestly. And that's like putting your money in an index fund or not doing anything with it. But much respect goes out to Warren Buffett regardless, as he is very consistent with his investment strategies unlike Ray Dalio, who is quite a mixed bag of confusion when it comes to investing.
I want to leave this short clip by Value Entertainment and Anthony Pomp. Both these two gentlemen have a good four-minute conversation on this matter.
Also, please subscribe to their YouTube channel, as their personas have been fairly consistent for the past several years that I have been listening to them. And with that said, let's discuss another hater from a night ago, this one is Bill Maher. He came out bashing Bitcoin on one of his programs the other day, but I don't blame him because I am betting someone just writes the scripts, and these actors just say whatever's on the script like me right now. Not just playing. And supposedly he is progressive whatever that means.
Sometime ago comments were made about Bitcoin mining consuming a lot of electricity. And yes, that is true. But those operations are centralized overseas in China. And China's operations use excess electricity. They don't use more than what the current grid has, and also this includes the United States. The US is also looking at mining Bitcoin with excess fuel and energy and as well as oil reserves. So that's interesting. But all this means more education is needed for the actors and the people who need to learn about Bitcoin out there. They just have to learn what's going at the end of the day.
All right, with that said, these guys are not going to create that 100-foot wave or giant Titanic-like iceberg. They are not that impactful. There's nothing currently in the crypto market that is big enough except if the stock market were to crash, but I don't think the powers-that-be will want a stock market crash this year, given its president Biden's first term. And I'm telling you guys right now that all these markets are planned. So pay attention to the movers and shakers because they will impact the NFT community at the end of the day. Anyway, Bitcoin is here to stay and the US dollar will be debased. Some speculate hyper-inflation on fiat currency, which I can see so just be prepared. And expert Chartists right now see a golden cross forming in Bitcoin. But those are things we should not be worried about short-term unless you're out here day trading or in a crazy leverage position.
that's all for today folks. If you enjoy our content please be sure to like and subscribe to our channel. Our goal is to reach 500 subscribers by the end of this month, and we can only do it with your help. Feel free to share this content for us, as we would like to reach out to as many people as possible. . And if you have any questions or if there's an NFT collection that you would like us to review, please put it in the comments section, We look at every comment (because our team of experts has time).
This is Nick from NFT daily. Have a great day.
Nick is a content creator for Sobuka with a background in programming, information technology, finance, and digital forensics. He shares an interest in cryptocurrencies by reporting on International Affairs. You can find myself, B, and Laura here from time to time.
kim, T. (2018, May). Warren Buffett says bitcoin is ‘Probably rat poison squared.’ CNBC. https://www.cnbc.com/2018/05/05/warren-buffett-says-bitcoin-is-probably-rat-poison-squared.html
Sinclair, S. (2020, December). Bridgewater’s Ray Dalio Softens Stance on Bitcoin, Says It Has Place in Investors’ Portfolios. Coindesk. https://www.coindesk.com/bridgewaters-ray-dalio-softens-stance-on-bitcoin-says-it-has-place-in-investors-portfolios
Pompliano, A., & David, P. (2021, April). Bitcoin Expert Predicts A $100 Trillion Market Cap - Anthony Pompliano. valuetainment.
Maher, B. (2021, April). New Rule: Crypto Mania! | Real Time with Bill Maher. Real Time with Bill Maher.