Widely held cryptocurrencies are smack dab in the middle of their statistical “bell curve”, with only Litecoin being a touch oversold on a weekly basis. We expect cryptos to spend a few weeks digesting news and investor / speculator positions with no real rhyme or reason.
Mining profitability has increased a little, but still has us wondering if there aren’t other ways of monetizing proof of work (PoW) or proof of stake (PoS)?
We do not currently see strong demand for cryptocurrencies, as much as we believe supply held by weak hands has been exhausted at this time.
While cryptocurrenies are fun, exciting and sexy, Cenacle Capital can invest your IRA or 401(k) in the Enterprise value of blockchain stocks. We believe this is the best long term strategy to take advantage of this technology. We believe 80% to 90% of current cryptocurrency utility tokens will ultimately fail, leaving companies like IBM, CSCO, JPM, CME Group and others to survive and thrive!
These are the dominant companies in their industry and have the resources at their disposal to pivot and find revenues and efficiencies smaller companies can’t.
Not investment advice. Cenacle Capital owns positions in Bitcoin, Ethereum and other digital tokens.
For educational / advertisement purposes only.
Please read our disclaimer at www.cenaclecapital.com