“You know what, if you won the lottery – Yes, I’m gonna say it: 5% in Bitcoin,” Cramer said Thursday night on his Mad Money program. His advice came with a few caveats: Don’t buy it all at once, don’t buy it on the weekend. “Crypto could be incredibly volatile,” he said on a day when BTC tanked 13%.
According to data fetched by CryptoQuant, a South Korea-based blockchain analytics firm, Bitcoin miners at Chinese mining firm F2pool started the massive sell-off that crashed the BTC/USD exchange rate by almost 20 percent in just less than 24 hours.
CryptoQuant deduced the mining pool’s act as the main catalyst that slumped its price from $35,498 to $28,732 in just 24 hours.
Meanwhile, New York-based cryptocurrency investment firm Grayscale Investments purchased more than $600 m
Michael J. Saylor understood that it is the best strategy with Bitcoin.
Regular purchases, taking advantage of price drops to accumulate more.
Bitcoin is an accumulation game for years to come.
The more you can accumulate, the better.