I just had to write a piece given all the developments with Bitcoin and the impact on the Crypto currency market. Plus many people have been reading my articles from the statistics on Linkedin, Facebook and watching my Youtube videos.
So I feel an obligation to share my opinion, not financial advice. Pardon me if this article is not as short as the others. You will see why if you stay with me.
Bitcoin and Cryptos are like Siamese twins. What's good or bad for one is good or bad for the other.
So it was in December when we saw a spectacular pull back from a brilliant climb to touch 20, 000 U.S dollars. Being an inexperienced investor I relied on commonsense. Invested gains in four Initial Coin Offerings (ICOs) and one lending platform. The problem was most of the Bitcoin was bought between 15 and 16k so my hands were tied and are still tied. I did not have enough funds to diversify from Bitcoin but my limited smarts sent me to start a small portfolio that is diversified.
When Bitcoin fell to 12k then 11k I had no choice but to avoid the panic which proved deadly for others and wait or hold or HODL. Since appearing stabilised I have now seen it drop even further.
Choices and this is not investment advice. Buy now and hold for better times. This is the best time to buy.
Otherwise, you and I with Bitcoin have no choice but adopt the investors friend called PATIENCE.
We should also use this time to think. This about what we could have done better. Continue our education and gain more experience. Crypto faithful with a few frowns now would tell you there are bright times ahead. In a best case scenario Bitcoin will take some time to recover. Use the time in the interim wisely. I am looking to broaden my contacts with experienced traders, learn more, keep following the market developments and learn and learn.
Now might be the best time to buy Bitcoin. But it would take someone with the genital attributes of a prized bull to do so. If I had money I am prepared to part with or risk it would multiply I would buy Bitcoin now but know what to do with it.
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