Two Traders Favorite Cryptocurrencies

Two traders favorite cryptocurrencies, with bitcoin holding below $50,000. As the Federal Reserve’s two-day meeting got underway on Tuesday. Cryptocurrency investors were keeping a careful eye on what was going on.

The likelihood of the termination of the Federal Reserve’s stimulus program. Has put a shadow over the banking sector during the past few months.

Despite the fact that bitcoin gained ground on Tuesday. It remains far below the psychologically critical $50,000 mark. And far below the all-time highs of almost $70,000 reached in November.

The traders on CNBC’s “Trading Nation” were asked how they were putting their portfolios together. So that they would have the most possible exposure. To the cryptocurrency business as the year 2022 approached.

Mark Tepper, the president of Strategic Wealth Partners. Stated on Tuesday that if he had the option to buy right now, he would. Despite the fact that I greatly believe in bitcoin and even own some. I am a realist when it comes to my viewpoint. In addition, I feel that if you want to be successful in cryptocurrency ownership. Or trading, you should have enough bitcoin in your possession. To allow you to sleep well at night.”

According to Tepper, this represents around 10 percent of his liquid net worth. An amount that allows him to feel comfortable if he loses everything. While still feeling “elated” if the stock increases tenfold in value over the next year.

Remember that cryptocurrencies rose from the depths of Covid as a consequence of all. The new liquidity that came into the market as well as all of the [stimulus] checks. That were put in place during that time period. Tepper indicated that, as a result of the removal of the catalyst. “Gains in the future will be far slower.”

He’s giving ethereum 50% of his cryptocurrency position

Tepper stated in an email to CNBC that he is allocating 50 percent. Of his cryptocurrency investment to ethereum, 40 percent to bitcoin. And 10 percent to polkadot, a cryptocurrency. That is less well-known than bitcoin.

“Right now, I’m investing 100 percent of my new cryptocurrency money into polkadot. “It’s not something that many people are familiar with,” he remarked. “The founder of [the platform] Polkadot was also a co-founder of the Ethereum blockchain…”, writes the author. He essentially improved on Ethereum’s technology by modifying it to suit his needs. Consequently, that’s where my money is going at the moment.”

Gordon, who is also the founder of Inside Edge Capital Management. Believes that recent weakness in cryptocurrencies is likely linked. To a tech sell-off and a lack of liquidity in the system. He does, however, see crypto adoption among older and more established investors. As a positive trend that should help to mitigate the effects of such downswings.

Gordon, like Tepper, is positive on the cryptocurrency market and has a 3 percent allocation. To cryptocurrencies in his portfolio, which is comprised of 56 percent bitcoin. 35 percent ether, 5 percent solana, and 3 percent cardano, among other cryptocurrencies.

For example, if you want to look at the difference between ethereum and bitcoin. This is an old foreign exchange trick — you should look at the cross rates. “If you want to look at perhaps the difference between ethereum and bitcoin. You should look at ethereum versus bitcoin. Users and two traders should take the dollar out of it,” Gordon said in the same interview.

Leave a Reply

eleven − nine =