Bitcoin seems to be the one of the hottest topics in investing today. Some say bitcoin will skyrocket and others say it's in a huge bubble. What should one do? Several analysts have said bitcoin could reach $250000 while some say it will lose all of it's value and go to zero.
What if one just invests 1-5% of their wealth in Bitcoin and then wait. After 10 years you've either lost 1-5% of that wealth or you've made it possibly as much as 56.8 times bigger (250000/4400=56.8). Losing 1% of one's wealth is nothing, but making multiples of it could be a lot. With this strategy you don't have to lose sleep trying to live with Bitcoin's volatility. You buy the amount you want, store it safely, forget about it and see what happens in 10 years.
Cheers for investing without being nervous all the time!
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Great post. The is only one possible scenario where Bitcoin could go to zero, and that's if the Bitcoin system/protocol got hacked. The same could be said for gold though, if someone managed to find a way to create it. If Bitcoin doesn't get hacked I think we will see 100x in the next 5-10 years :D
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There is also the scenario of other cryptocurrencies taking over the market over Bitcoin and then Bitcoin would go to zero. That's why diversifying in multiple cryptos is also a good idea. However I think the probability of the alt coins going to zero is way higher than Bitcoin. Ethereum, Dash and Litecoin however seem like good places to diversify one's crypto investments.
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wow interesting, resteemed!
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