What is the reason why Warren Buffett Hates Crypto?
Why Warren Buffett Doesn’t Believe In Bitcoin?
Buffett has long been against cryptocurrencies. He told CNBC in 2018 that “they will come to a bad ending” and said that Berkshire Hathaway will “never have a position in them.” “I get into enough trouble with the things I think I know something about,” he said at the time.
Or when he said he wouldn’t buy all the crypto in the world for $25.
But one of his sayings does ring true when applied to crypto:
Be greedy when others are fearful. And these days, the market truly has been paralyzed by fear, thanks to several macroeconomic forces.
Whether it’s TerraUSD (UST, Stablecoin) depegging, the Federal Reserve hiking the rates and starting their “quantitative tightening” or the S&P 500 plummeting and taking crypto along for the ride, the markets seemed downright hostile to an average trader and HODLer.
And this isn’t just my observation.
Bearish market sentiment has been confirmed by the Fear and Greed index which has been registering “extreme fear” for the past three weeks.
The market started experiencing panic on May 9, when BTC first broke below $31,000 for the first time since July 2021. And it hasn’t let up since.
Although these are dire times for crypto, they are far from hopeless.
An investor needs to be shrewd and collected, so they can recognize an investment opportunity and grab it — looking forward and making profits while everyone else is stuck in a less pleasant present, but without being impatient.
There are a few strategies such investors can use to make money in bearish or neutral markets.
One of the riskier ways often has the potential for the highest reward: timing the market.
Identifying a market bottom — when market prices have reached their lowest point in that cycle — signals the end of the selling and the start of an upward trend. Buying at that price allows investors to ride the wave up and maximize potential profits.
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