I think the Bitcoin price is going to crash; here are some ASX shares instead

I think the Bitcoin price is going to crash, so I would rather buy shares in growing ASX shares like Pro Medicus Limited (ASX:PME) and Catapult Group International Ltd (ASX:CAT).

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

I think the Bitcoin price is going to crash, so I would rather buy shares in growing ASX companies like Pro Medicus Limited (ASX: PME) and Catapult Group International Ltd (ASX: CAT).

Is a Bitcoin crash coming?

bitcoin price
Data sourced from Coindesk

Since the beginning of June, the price of Ethereum (black line) has fallen from over $400 to its current $194. For the math wizards out there, that's a fall of more than 50% — in around seven weeks. Yikes.

Meanwhile, Bitcoin fell from $3,000 to $2,000. Then, it recovered and currently trades around $2,700.

However, tomorrow is August 1st.

D-day for the cryptocurrency, according to some experts.

August 1st is the date which the Bitcoin overlords are destined to meet up behind a secret waterfall in the Swiss Alps to discuss the future of the digital 'currency'.

(the 'waterfall' part was a joke — I'm not sure where they are meeting)

But the overlords are meeting to set the future of the currency.

Some 'miners' of Bitcoins want to do one thing with the currency, while others in the Bitcoin community are eager for it to become a truly global and secure digital currency for transactions.

Should I sell now?

I think Bitcoin could fall on August 1st. However, I wouldn't bet my life savings on a big fall.

And rather than using a fall in the Bitcoin price as an opportunity to load up on some coins, I'm going to watch it from afar.

You see, the Bitcoin currency has some significant limitations and many hurdles it must leap if it is to become the pervasive currency it is supposed to be.

And speculative 'assets' have a habit of coming back to bite the average Joe, like me, when they least expect it.

2 ASX shares

So while the returns from Bitcoin, Ethereum and Ripple appear to be otherworldly, I'm sticking to the tried and true realm of share markets.

And if you are in the market for speculative 'investments' that have the potential for outsized returns, you too could stick shares of companies like Catapult Group and Pro Medicus on your watchlist.

The share prices of these two Melbourne-based tech companies are up 250% and 400%, respectively, over the past three years.

Best of all, they are real companies selling real products, based in Australia and regulated by ASIC and the Australian government.

One day, they might even pay dividends!

That's my kind of D-day.

Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any company mentioned. You can follow him on Twitter @OwenRask. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »