Cryptocurrency expert Mark Grabowski was interviewed by multiple news outlets this week about investing in Bitcoin. He offered advice on whether investors should use their Roth IRAs to trade Bitcoin and what the investing outlook was for Bitcoin.
He told blog CreditDonkey, "While I feel pretty good about Bitcoin's prospects long-term—say a decade from now—it is a very volatile investment. Bitcoin will likely skyrocket at some point in the future but also experience a very big drawdown from that peak. The peaks and bottoms are impossible to predict, and the volatility shakes out most casual investors. So, for the average investor, I wouldn't recommend investing your retirement funds in Bitcoin unless you're willing to put the money in and not look at the price for a few years."
Grabowski was also discussed the recent cryptocurrency market crash withRussian news outlet Sputnik News. "I don’t think the Google of cryptocurrency exists yet. But eventually the prices will get so low that the upside becomes too large for greed not to take over. Rinse and repeat. The next Bitcoin halving is in April 2024, so I think the market will start heating up again around then or soon after," he said.
Grabowski is an associate professor at Adelphi University in New York, where he teaches a course on cryptocurrency and blockchain. He is author of Cryptocurrencies: A Primer on Digital Money. He also received a 2020 Fulbright Fellowship to research cryptocurrency regulations in Asia and founded his own cryptocurrency project, FreeSpeech.Finance.
He told blog CreditDonkey, "While I feel pretty good about Bitcoin's prospects long-term—say a decade from now—it is a very volatile investment. Bitcoin will likely skyrocket at some point in the future but also experience a very big drawdown from that peak. The peaks and bottoms are impossible to predict, and the volatility shakes out most casual investors. So, for the average investor, I wouldn't recommend investing your retirement funds in Bitcoin unless you're willing to put the money in and not look at the price for a few years."
Grabowski was also discussed the recent cryptocurrency market crash withRussian news outlet Sputnik News. "I don’t think the Google of cryptocurrency exists yet. But eventually the prices will get so low that the upside becomes too large for greed not to take over. Rinse and repeat. The next Bitcoin halving is in April 2024, so I think the market will start heating up again around then or soon after," he said.
Grabowski is an associate professor at Adelphi University in New York, where he teaches a course on cryptocurrency and blockchain. He is author of Cryptocurrencies: A Primer on Digital Money. He also received a 2020 Fulbright Fellowship to research cryptocurrency regulations in Asia and founded his own cryptocurrency project, FreeSpeech.Finance.
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