If at first you don't succeed, make another call. Such is the life of market punditry.
"I was manifestly, overtly, sharply, obviously, publicly, bearish on bitcoin at $10,000, $15,000, $20,000, I thought it was nonsense," conceded Dennis Gartman, editor of the Gartman Letter, in an interview (video above). Gartman said the digital currency's support level around $6,000 a coin has been "impressive," and while he was bearish on bitcoin at higher prices, he has now shifted his stance to neutral at today's prices.
"I do think that the blockchain is brilliant, and I'm very bullish on the implications of the blockchain and its uses going forward."
After dipping below the $10,000 mark over the weekend, bitcoin prices were firmly above the threshold on Monday, Feb. 26. According to Coinmarketcap, the digital currency was up about 7% for the day in afternoon trading, close to $10,200 for most of the session. A majority of the other top market cap cryptocurrencies were also trading into the green.
Top experts will debate the pros and cons of investing in bitcoin and other cryptocurrencies in an exclusive webinar on TheStreet hosted on Feb. 28. Bitcoin prices are down over $10,000 since mid-December 2017, leaving some investors wondering if it's time to buy the market's most talked about cryptocurrency. Plus, our experts will weigh in on blockchain and how to profit from it.
Sign-up here: TheStreet LIVE: Investing in Cryptocurrencies