Signs Of A Market Top? This Pole Dancing Instructor Is Now A Bitcoin Guru

Pole dancing instructor Dee Heath built a successful fitness business in western Sydney teaching “stripper fitness” classes that seem to be in vogue among millennial women.

But recently, Heath has discovered a new passion: Investing in digital currencies.

Heath has spent $5,800 on Bitcoin since July and has more than tripled her investment.

"Look, I love pole dancing but lately my passion has definitely been Bitcoin," she told SBS News.

Heath is spending less time on the pole and more time advising would-be bitcoin investors about navigating the world of digital currencies, even starting a website to explain the digital currency to novices.  

"It comes with any investing, it's volatile at times, especially cryptocurrencies," she said.

 

"The good thing is when it goes down, you can buy some more, and you know it's going to go up at some point."

Dee Heath

"As long as you're calm and you don't let emotions run you when you're dealing with any sort of cryptocurrency, particularly Bitcoin, then you're safe."

Still, there are plenty of skeptics in her native Australia, where digital currencies are still largely associated with the black-market economy thriving on the dark web.

"Australia in particular has been involved in buying and selling drugs on the dark web using cryptocurrencies," said Professor David Glance from the Centre for Software Practice at The University of Western Australia.

 

"Many are comparing the buzz around Bitcoin to tulip mania that hit the Netherlands in the 17th century."

Professor Glance said with such a volatile currency, investors should only buy what they can afford to lose.

But with the digital currency recently peaking above $11,000 – a valuation that represents a 950% return since the beginning of the year in US dollar terms – mom and pop investors who had previously never heard of bitcoin are trying to get a piece of the action. Recently, the CME Group and other exchanges around the world have launched – or announced they’re planning to launch – new bitcoin derivatives that will make it easier for institutional investors like hedge funds to play in that market. Though many new funds have been established already this year to get in on the action.

Earlier this week, pioneering cryptocurrency investor Mike Novogratz, whose digital-currency focused fund has recorded astronomical returns this year thanks to the performance of bitcoin, Ethereum and many other digital currency copycats. After accurately predicting that bitcoin would reach $10,000 this year, Novogratz now says he sees it going to $40,000 by the end of next year.

Other financial luminaries like Warren Buffett and – most famously – JP Morgan CEO Jamie Dimon have said they believe bitcoin is a bubble. Dimon famously opined that the digital currency could get somebody killed.

And while bitcoin has given investors no reason in recent months to believe the rally is slowing down, the idea that strippers are starting to pour their cash earnings into bitcoin is eerily reminiscent of a scene from the movie “The Big Short” where two of the film’s protagonists interview a stripper who took out subprime mortgages to buy nearly half a dozen properties.

Should investors pay attention to this “stripper indicator”?

Comments

USisCorrupt God Emperor Sun, 12/03/2017 - 06:16 Permalink

She is a VERY SMART Woman.The Market Cap is JUST 340 Billion Today for ALL Crypto Currencies.WAKE ME when it its a Trillion, 5 10, 20 25 TRILLION and most of you on this Board bashing her will want to put a Bullet in YOUR HEAD for being so STUPID not to UNDERSTAND what is taking place.Now go back and stick your head in your I-phone like a Good Brain Dead Zombie!

In reply to by God Emperor

Escrava Isaura USisCorrupt Sun, 12/03/2017 - 06:35 Permalink

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Welcome to Delusistown. Pole Dancing Now A Bitcoin Guru Now welcome to my world. I had a friend on Thursday telling me that she paid $1,500 dollars to learn in how to trade in the stock market. And, she didn’t tell me that before, because she thought I would scald her for thinking in doing it. So last Thursday I realized there’s no hope. I can’t even wake up my best friend.  

In reply to by USisCorrupt

Truth_Hoits Escrava Isaura Sun, 12/03/2017 - 11:25 Permalink

"""I can’t even wake up my best friend."""Come on, you don't have ANY friends..let alone a 'best' one...unless you mean a dog...even then, it's likely your neighbor's dog."""Now welcome to my world."""Pass!"When you can't make them see the light, make them feel the heat." - Ronald Reagan Speaking of Reagan...Sen. Kennedy Once Colluded With Russia To Undermine Reagan “In a time of deceit telling the truth is a revolutionary act.”  - George Orwell

In reply to by Escrava Isaura

slvrizgold USisCorrupt Sun, 12/03/2017 - 23:16 Permalink

OK, I'll wake you up when the market caps of cryptos are equal to GDP of the largest countries in the world.   GTFO!   I've seen this movie before.   I would bet you're not even 30 years old.  If you ever took math in high school you should have learned about parabolic functions.   And learn how to write.   What kind of fucktard capitalizes like that?

In reply to by USisCorrupt

slvrizgold USisCorrupt Sun, 12/03/2017 - 23:16 Permalink

OK, I'll wake you up when the market caps of cryptos are equal to GDP of the largest countries in the world.   GTFO!   I've seen this movie before.   I would bet you're not even 30 years old.  If you ever took math in high school you should have learned about parabolic functions.   And learn how to write.   What kind of fucktard capitalizes like that?

In reply to by USisCorrupt

slvrizgold USisCorrupt Sun, 12/03/2017 - 23:16 Permalink

OK, I'll wake you up when the market caps of cryptos are equal to GDP of the largest countries in the world.   GTFO!   I've seen this movie before.   I would bet you're not even 30 years old.  If you ever took math in high school you should have learned about parabolic functions.   And learn how to write.   What kind of fucktard capitalizes like that?

In reply to by USisCorrupt

38BWD22 tmosley Sun, 12/03/2017 - 01:42 Permalink

  Just took another schnitzel of my Bitcoin stash and bought Au with it.  I am stacking Au much faster than I could have without BTC.You and fonestar deserve much recognition for being correct in the face of unrelenting hostility.Look forward to your comments on other (privacy oriented) cryptos once they become more mainstream to those of us non-tekkies.*  *  *I would not know, but a BIG DUMP (30% or more price drops are very typical in BTC) *could* happen anytime.  The most I ever paid was $6900 and change.  Likely I will not buy anymore BTC, just HODL the rest that I own, perhaps until $20,000 or maybe more.I feel no pressure at all to sell now that I have made much more money than my original investment back.

In reply to by tmosley

ClassicalLib17 Supafly Sat, 12/02/2017 - 20:57 Permalink

Uh...no. They're a bunch of coastal livin' progressive BoBo's continually supporting govt 'renewable energy' schemes and destroying their economy. South Australians now pay the highest electric rates in the industrialized world. They assumed that elite position last summer from Denmark. Germany is now #3. What do these nations and state all have in common? I'll provide you with one clue, read on:http://notrickszone.com/2017/12/01/germanys-national-power-grid-mess-country-seeing-whopping-172000-power-outages-annually/#sthash.vRm6yG16.dpbs

In reply to by Supafly