During the four market days from August 1 through August 6, Bitcoin experienced a massive price drop followed by a partial recovery. Leveraging a unique ETF, I have developed a strategy that capitalizes on the dips for long-term profits—a strategy that is sure to intrigue you.
On August 1, Bitcoin closed at $65,337. On August 2, it lost almost $4,000. Then, over the August 3-4 weekend, it tumbled by another $3,300. On Monday, August 5, the bottom fell out, and Bitcoin bottomed at $49,121. A little math shows that the cryptocurrency dropped by $16,216, or 25%, in less than four days. But, as I write this, Bitcoin has recovered about half of those losses.
While Bitcoin’s long-term trend should be positive, the cryptocurrency remains very volatile. Here is the price chart for the last six months.
A buy-the-dips strategy would be a great way to accumulate Bitcoin or shares of a Bitcoin tracking ETF.
In my newsletter services, I only recommend dividend-paying investments. The recent massive growth in covered call ETFs has opened up a whole new category of high-yield opportunities.
The Roundhill Bitcoin Covered Call Strategy ETF (YBTC) employs a synthetic covered call strategy using options on the ProShares Bitcoin Strategy ETF (BITO). YBTC pays variable monthly dividends and has a current reported distribution rate of 52.2%. The distribution yield has varied between 25% and 75%.
My goal with YBTC is to buy during the dips to accumulate shares and earn growing dividends from the very high yields. If you buy when Bitcoin takes one of its regular downturns, you can average down your shares. With this strategy, I expect to earn about 50% per year from this ETF, a potential for high returns that should give you hope for your investment.
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