I used to be a Gold Bug
The truth is, I was that guy because most of my heroes, at the time, were also Gold Bugs.
Technicians are trend followers, or at least the good ones are.
And at the time, young JC was very much influenced by the older Technicians of the day.
Also the trend was up. And we were making money in Gold. So it made it easy.
But it wasn't until they launched the Gold ETF that things really got going to the upside.
Here's a chart of Gold going back to the 1970s where you can see a steady decline for 20 years.
Notice the uptick heading into the ETF launch, and then the historic ripper after the ETF came out:
Does this sound familiar?
Investors at the time, especially institutions, had a hard time investing in Gold. You had the Gold Mining companies, of course. But no easy way to just own Gold itself.
Once the ETF launched, that immediately changed, giving investors of all sizes a way to easily press a button and add Gold to a portfolio.
That overwhelming amount of demand sent Gold prices soaring.
All they needed was a way to enter the market, that wasn't there before.
The rest is history.
Fast forward 20 years and it's Déjà vu all over again, to quote the great Yogi Berra.
Bitcoin has been a difficult asset to own, just like Gold was prior to 2004.
All investors had was the Mining stocks and a few random trusts.
Now that the ETF is here, anyone can participate, no matter how small the portfolio, or more importantly, how large.
Institutions who could not participate before, now can very easily.
And I don't know if you noticed, but they're coming.
In fact, institutions are coming into these Bitcoin ETFs at a record pace.
We've never seen anything like this before in history, even when compared to the Gold ETF launch.
At our Crypto Breakthrough Event last Thursday, we spent over an hour going over the state of the crypto markets and how we're analyzing it to make money during this historic rally.
But since then, two things have happened. First, cryptos have kept going up (and with it, enthusiasm). And second, we received far more questions than we anticipated.
So we're running it back.
Today, Wednesday. 2:00 pm ET. Live on Youtube.
We're doing another hour-long stream to discuss what's going on in crypto, the amazing data at our fingertips, and how you can profit.
See you there.
JC