Crypto Currency Markets....Should You Be Buying?
The Title says it all doesn't it?
You have a difficult time deciding don't you?
You sit back and think, "man there are fortunes being made, I can't wait any longer because I am missing the boat".
Let me settle your nerves.
Ask yourself this question, "are you a value investor like Warren Buffet"? Or are you a chronic gambler like 99% of the population that wishes they were like him?
You need to be able to read a chart first. This is VERY important in making any decisions around your investing. Like Amazon right now. Would you buy at 196 times value?
Your an idiot if you said "you would". Please forgive me for being blunt. Let me ask you how on earth you think a model like Amazons is going to be able to perform at 196 times value. Bezos may be good and the richest man in history but he's not that good. The time to buy his company was after the crash in 2000 or 2008. Not now during the mania.
Same with crypto. Almost no one gave a dam about Bitcoin back in 2010 when it was trading at only a few dollars.
Well almost no one. I was watching. I knew that it would rocket to at least 50.00 making me a cool 1000% on a small deposit (do the math...lol). Well it went a lot better than that. No I did not hold to its peak at 2900. However that was the time to buy.
There are all kinds of crypto currency valuations now and they are backed with just about everything you can think of which also means that they are not here to stay.
Is Bitcoin going to replace the US dollar?
No. However the technology may be eventually used by the big players and that is where you play is. Not in chasing bubbles. Bitcoin may hick up to 3500 or slightly higher but it reminds me of the gold bubble of 2000 to 2011. When you see price go vertical like that you know that the majority of gains are already off the table. When you start hearing all the guru's selling you the latest trending nonsense then you know it is too late. That is where we are now. That is where we were in 2011 too when Gold peaked out and then began its gradual fall of which we are still in to this day. If you want to gage charts then go here. https://coinmarketcap.com/
Look at the price. Look at the market cap and look at the volume of money in the coffers.
Do you remember egold? How about DxInone?
These were online exchanges that did very well too for a while until all the hoopla and hype wore off and then bam!!!! Where are they now?
Gone!
Stay with me here kids (Just kidding) and you will do alright. Doing alright is always better than trying to hit the next home run. Its like winning the lotto. It always happens to someone else doesn't it. Or you get trapped in a mind set where you are going to wait forever for the price to return to where you bought it because of course it will return and you will make your fortune. If you think like that then you are doomed to failure after failure. You are not going to win the lotto ok. It's not going to happen. So stop buying tickets. Put the money in your trading account and let's compound it over time. Measured in months and years.
You have a difficult time deciding don't you?
You sit back and think, "man there are fortunes being made, I can't wait any longer because I am missing the boat".
Let me settle your nerves.
Ask yourself this question, "are you a value investor like Warren Buffet"? Or are you a chronic gambler like 99% of the population that wishes they were like him?
You need to be able to read a chart first. This is VERY important in making any decisions around your investing. Like Amazon right now. Would you buy at 196 times value?
Your an idiot if you said "you would". Please forgive me for being blunt. Let me ask you how on earth you think a model like Amazons is going to be able to perform at 196 times value. Bezos may be good and the richest man in history but he's not that good. The time to buy his company was after the crash in 2000 or 2008. Not now during the mania.
Same with crypto. Almost no one gave a dam about Bitcoin back in 2010 when it was trading at only a few dollars.
Well almost no one. I was watching. I knew that it would rocket to at least 50.00 making me a cool 1000% on a small deposit (do the math...lol). Well it went a lot better than that. No I did not hold to its peak at 2900. However that was the time to buy.
There are all kinds of crypto currency valuations now and they are backed with just about everything you can think of which also means that they are not here to stay.
Is Bitcoin going to replace the US dollar?
No. However the technology may be eventually used by the big players and that is where you play is. Not in chasing bubbles. Bitcoin may hick up to 3500 or slightly higher but it reminds me of the gold bubble of 2000 to 2011. When you see price go vertical like that you know that the majority of gains are already off the table. When you start hearing all the guru's selling you the latest trending nonsense then you know it is too late. That is where we are now. That is where we were in 2011 too when Gold peaked out and then began its gradual fall of which we are still in to this day. If you want to gage charts then go here. https://coinmarketcap.com/
Look at the price. Look at the market cap and look at the volume of money in the coffers.
Do you remember egold? How about DxInone?
These were online exchanges that did very well too for a while until all the hoopla and hype wore off and then bam!!!! Where are they now?
Gone!
Stay with me here kids (Just kidding) and you will do alright. Doing alright is always better than trying to hit the next home run. Its like winning the lotto. It always happens to someone else doesn't it. Or you get trapped in a mind set where you are going to wait forever for the price to return to where you bought it because of course it will return and you will make your fortune. If you think like that then you are doomed to failure after failure. You are not going to win the lotto ok. It's not going to happen. So stop buying tickets. Put the money in your trading account and let's compound it over time. Measured in months and years.
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