An Alternative Way to Profit From Bitcoin

Editor’s note: Today, we’re featuring an insight from friend of Legacy and Market Wizard Larry Benedict.

He’s a renowned trader who’s traded moves in just about everything – stocks, gold, oil, even currencies. And now he’s got his eye on an often-overlooked asset that offers repeat profits – bitcoin.

Traders book the greatest gains when prices are swinging high and plunging low… That’s why Larry’s “bitcoin skimming” strategy lets you actually profit from the one thing that puts most people off the crypto – its notorious volatility.

You can hear more about it from Larry on Wednesday, October 25, at 8 p.m. ET. He’s going live to reveal all the details and show you how it’s done. Just go here to sign up.

Bitcoin’s wild volatility can be too much to handle for a lot of folks… But with Larry’s strategy, you can harness it to make repeat double-digit trading gains.

In 2016, a gentleman came to my office with an interesting proposition.

He told me, “You’ve got to buy bitcoin. It’s going to be the next big thing.”

At the time, bitcoin was trading at about $1,000.

I’d been having a good year as a trader. I had some capital to speculate with and was interested. I asked him to tell me more.

And that’s where it all went sideways.

When he started talking about putting money on an external drive and all the hoops to jump through, I passed on the chance.

I control risk fanatically. It’s what got me featured in Jack Schwager’s 2012 book on the world’s best hedge fund managers, Hedge Fund Market Wizards. From 1990 to 2010, I didn’t have a single losing year at my hedge fund, Banyan Capital.

And all the unusual steps you had to go through to buy and store bitcoin safely sounded crazy to me.

I watched its price run up to more than $64,000 in 2021. That would have been a more than 6,000% return.

Even at today’s lower prices, I could have made more than 2,800%.

That’s enough to turn every $100,000 into $2.8 million. If I’d put $1 million into bitcoin – something I’m used to as a trader – I’d have $28 million today.

But you know what?

I don’t regret it.

It started me thinking about ways to profit from bitcoin’s big moves without fiddling around with wallet apps, online crypto exchanges, and USB keys.

It also got me thinking about how to profit from bitcoin while staying true to my mission to always control my downside risk.

I used my nearly 40 years of experience as a trader to develop this alternative solution. And I found a trading opportunity that even has the potential to surpass bitcoin’s gains.

Let me show you what I mean…

87% Gain in 5 Days

Last year, bitcoin had become tightly correlated with the stock market.

The two markets were moving in near lockstep, in other words.

The S&P 500 fell about 20% during the first six months of 2022. And the tech-heavy Nasdaq did even worse. It plunged 29%.

And bitcoin plunged along with it…

But in July, the selling pressure began to wear off. And bitcoin regained some short-term momentum.

So, I put my trading strategy into motion to profit from the bounce. And I sent out a trade alert to my subscribers.

Five days later, I closed out that trade for an 87% gain.

Bitcoin rose only 13.5% over those five days. But thanks to my strategy, I was able to make more than six times that return.

This strategy also works when bitcoin is falling.

Back in November 2021, bitcoin was struggling to stay at its highs, and I saw an opportunity to the downside in this space.

Bitcoin plunged nearly 19%. I closed out the trade for a 72% gain.

And my readers didn’t have to download a crypto wallet… sign up for an online exchange… or remember any complicated passwords.

They could make these trades, without touching cryptos directly, through their brokerage account.

I call it “bitcoin skimming.”

It allows you to profit from explosive moves in the cryptocurrency market – without having to buy crypto.

And as I’ve shown my readers, it can deliver double-digit gains over short time frames.

On Wednesday, October 25, at 8 p.m. ET… I’ll show you how it works.

If you’re looking for a way to profit from the big moves in bitcoin, without having to own any crypto directly, this is the best strategy that I know of.

It amplifies the gains on bitcoin while strictly controlling your downside risk. And you don’t need a fortune to get started.

You can place your first skim trade for as little as $117.

So, I hope you’ll join me on October 25 to learn all the details.

I’ve saved a spot for you for free. All you have to do to attend is claim it right here.

Regards,

Larry Benedict
Editor, Trading With Larry Benedict