BITCOIN WHEN SHOULD YOU SELL? | This is part 2 with our video series with James Deakin! In the first video we talked about why Bitcoin is the future while in this video we will do a deep dive on when you should sell your Bitcoin.
#StockSmarts #Bitcoin #CryptoInvesting #WHEN SHOULD YOU SELL
Aren’t you glad you kept that Bitcoin? I know I am. Even with the recent decline from its highs, coming close to $20,000, investors have been bullish. Is it going to $50,000? Nope. It’s going to $500,000, some on the Street have told me (hint: she runs a big, innovative ETF). These are the wild speculative prognostications that make Bitcoin what it is. But keep it. Even if it goes to $5,000 again. We’ve seen that what comes around, goes around.
It took over 1,000 days since Bitcoin hit its previous all-time high, recorded in December 2017.
“We are buyers at this price as we believe Bitcoin will appreciate over the short-, medium- and long-term,”says Daniel Wolfe, fund manager at the Simoleon Long Term Value Cryptocurrency Fund, which he runs in partnership with SPRING, a Moscow-based investment firm. “Taking a three to five year view and dollar cost averaging into a position that represents around 5% of your portfolio is prudent today.”
More than a decade into its existence, Bitcoin doesn’t seem to be going away. The cryptocurrency has attracted good and bad headlines as it’s worked its way through multiple peaks over the years, and despite a reputation for volatility, it continues to attract new investors with its promise of market-beating returns.
Here’s what to know about investing in Bitcoin.
What to know about Bitcoin
Bitcoin is a cryptocurrency. This means it’s a form of electronic money that secures and validates transactions via the use of cryptography. In Bitcoin’s case, people and organizations known as “miners” use computing hardware to calculate a code — known as a “hash” — that encrypts the data contained in transactions. This data is collected into “blocks,” which are linked together in a blockchain that cannot, in theory, be changed once written.
On an economic level, Bitcoin’s creator — the pseudonymous Satoshi Nakamoto — created it in 2008 as a form of “sound money,” akin to digital gold.
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Should You Invest in Bitcoin?
If you are wondering what Bitcoin is and if you should invest in it, then this article is for you. In 2010, the value of one Bitcoin was only 5 cents. Fast forward in 2017 and its value touched $20,000. Again, the price dropped to $8,000 within the next 24 hours, thus causing a huge loss to the currency holders.
The Key Is to Get in Early
Clearly, the crypto world is still in its initial stages of development and adoption. The role of Crypto Trend is to provide impartial information, so investors can better weigh the dangers and the future potential of this very volatile sector, one that we have labelled the “wild west.
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