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Bitcoin Hits New All-Time High as Open Interest Spikes, Retail Stays on Sidelines

Bitcoin (BTC) has soared to a new all-time high of $111,970, likely driven by leveraged positions. On Thursday, May 22, open interest in Bitcoin futures across major crypto exchanges reached $80.91 billion — the highest level ever recorded.

🔗 Full news: https://crypto.news/bitcon-hits-new-all-time-high-as-open-interest-spikes-retail-stays-on-sidelines/

MetaGaming Guild Announcement
📢 𝗖𝗿𝘆𝗽𝘁𝗼 𝗡𝗲𝘄𝘀
Bitcoin Hits New All-Time High as Open Interest Spikes, Retail Stays on Sidelines

Bitcoin (BTC) has soared to a new all-time high of $111,970, likely driven by leveraged positions. On Thursday, May 22, open interest in Bitcoin futures across major crypto exchanges reached $80.91 billion — the highest level ever recorded.

🔗 Full news: https://crypto.news/bitcon-hits-new-all-time-high-as-open-interest-spikes-retail-stays-on-sidelines/
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Should You Buy Bitcoin?

In general, many financial experts support their clients’ desire to buy cryptocurrency, but they don’t recommend it unless clients express interest. “The biggest concern for us is if someone wants to invest in crypto and the investment they choose doesn’t do well, and then all of a sudden they can’t send their kids to college,” says Ian Harvey, a certified financial planner (CFP) in New York City. “Then it wasn’t worth the risk.” The speculative nature of cryptocurrency leads some planners to recommend it for clients’ “side” investments. “Some call it a Vegas account,” says Scott Hammel, a CFP in Dallas. “Let’s keep this away from our real long-term perspective, make sure it doesn’t become too large a portion of your portfolio.” In a very real sense, Bitcoin is like a single stock, and advisors wouldn’t recommend putting a sizable part of your portfolio into any one company. At most, planners suggest putting no more than 1% to 10% into Bitcoin if you’re passionate about it. “If it was one stock, you would never allocate any significant portion of your portfolio to it,” Hammel says.

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