Bitcoin Won’t Make You a Millionaire
Don’t invest what you can’t lose
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The price of Bitcoin can still plummet.
And in fact, Bitcoin might fall to $15,000 again losing half of its perceived value.
Be aware, you’re trading a real dollar for a digital dollar.
What value does a digital dollar have in the physical world?
I don’t know.
I suggest you only invest the amount you’re comfortable losing.
Bitcoin and Cryptocurrencies are the wild west and not for everyone.
If you can’t handle losing half of your investment overnight then don’t invest in Bitcoin.
Right now, Bitcoin is in a bull market.
What is a bull market?
A bull market happens when prices go up.
Prices go up and everyone’s excited. It’s all love in the world when we’re in a bull market.
Everyone will tell you to put more money in Bitcoin.
DON’T listen to them.
Because when the market turns those people telling you to buy won’t be around. In fact, they’ll say they sold their Bitcoin when it was high.
You’re smart. Don’t let the noise change your opinion of what you should do.
Warren Buffet has said that he and Charlie Munger get fearful when other people get greedy and greedy when other people get fearful.
Right now everyone is being greedy when it comes to Bitcoin. And telling you that Bitcoin can make you a millionaire. If Bitcoin were going to make you a millionaire, it would have happened already because you would have been first to invest in 2013 when the price was around $100.
Buying right now at $30,000 doesn’t sound like being one of the first ones to invest. It sounds like you missed the wave. Investing now means you’re hoping there’s something left.
There might be more, but is that a risk you’re willing to take?
Tread lightly because there is a dark side.
The bull market can turn into a bear and no one will be there.
When the world zigs, you zag.
This is not the time to imitate other people’s behavior.
Day 2.
