Bitcoin Can Be Worth a Lot or Zero: Money Manager Bill Miller

DigitalBank is the ultimate Safe Haven for Bitcoin and CryptoCurrency
We are developing the most secured and anonymous Blockchain Bank in the World.
We are the Fort Knox of Cryptocurrency and Financial Assets Transfers
For additional information please contact us at [email protected] 

The Best & Most Secure Cryptocurrency Wallet 2019

 https://www.digitalbank.capital/

Bitcoin Can Be Worth a Lot or Zero: Money Manager Bill Miller root 4 mins ago Google+ VKontakte Telegram Viber Bitcoin Can Be Worth a Lot or Zero Money Manager Bill Miller
The bitcoin price has the potential to be worth a lot — or it can tank to zero, says Bill Miller , the founder of Miller Value Partners in Baltimore, Maryland.
“I like bitcoin because it’s not correlated with [the stock market],” Miller told CNBC (video below). “It does have the potential to be worth a lot, and the potential to be worth zero.” Invested $1 Billion in Bitcoin in 2017
Miller claims he’s a bitcoin observer, not a bull. But he has an interesting history with the flagship virtual currency. In December 2017, Miller made headlines in when he invested $1 billion of his firm’s assets in BTC at the height of the market.
Miller also invested 1% of his personal net worth (which is undisclosed) in bitcoin, as CCN reported . He has apparently scaled back his firm’s allocation to BTC in the wake of the prolonged bear market.
However, he calls the original cryptocurrency an “interesting technological experiment” that investors should not cavalierly dismiss. Miller Value Partners CIO Bill Miller said he thinks bitcoin is an “interesting” opportunity for investors, but he’s not bullish on the cryptocurrency because it has potential to be worth nothing. https://t.co/7guCWvZOYT pic.twitter.com/je0rbS8pop
— CNBC (@CNBC) January 7, 2019 Miller: BTC Has No Correlation To Stock Market
Bill Miller said the one thing he likes about bitcoin is that its performance is uncorrelated to the broader stock market. This makes them a good investment during down markets, he said.
“Bitcoin basically has no statistical correlation with stocks or bonds, which makes it an excellent diversifier,” Miller reasoned.
Bitcoin peaked in December of last year. And the stock market peaked in January [2018]. It went down for four or five weeks, and then rallied through September 2018.
All that time, bitcoin was going down, so the correlation there was negative. ‘Very Clear Pattern’ of Higher Lows
While some analysts agree that there’s some correlation between crypto and tech stocks , many say there’s a far smaller relationship between crypto and the general stock market.
Miller says if anything, bitcoin trends have preceded the stock market. He pointed out that the stock market weakened right after the bitcoin price started to drop.
Bitcoin peaked in December of last year, and the stock market peaked in January [2018]. It went down for four or five weeks, and then rallied through September 2018.
All this time, bitcoin was going down, so the correlation there was negative.
In the very short term, bitcoin tended to lead the [stock] market. Bitcoin bottomed 52 weeks after it peaked in December [2017]. And it started up again.
The stock market didn’t bottom for another three to four weeks. Now the stock market is starting up. Who knows if that correlation will hold?
Despite the current Crypto Winter , Miller noted that there’s a “very clear pattern” of higher lows amid the constant price fluctuations.
“Take a look at the low for bitcoin each year since it came out 10 years ago,” Miller said. “By and large, there’s a very clear pattern of higher lows.”
Featured image from Shutterstock.

The DigitalBank Device OS , replaces the conventional method of signing transactions with a distributed signing algorithm. As recent events around the world demonstrated, owners of cryptocurrency are in danger of being physically attacked by thieves who can force you to hand over access to even a secure hard wallet.
That’s why the DigitalBank implemented mechanisms to protect user funds in any situation
The Fort Knox of Crypto Banking – World’s Most Secured Hardware Wallet
100% anonymous accounts : nothing is stored , on any third party servers . DB is the most secure vault for your digital assets. Buy , Sell , Send , Receive and Store bitcoins, and all major cryptocurrencies including all ERC20 tokens , in the safest way available today .
Private keys can never be exposed because are not stored anywhere .
​Starting at $ 1800 USD
For additional information contact us at : [email protected]