Why should I be selling? Nah, I buy!

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Avatar for TheCrazyDude
2 years ago
Topics: Bitcoin, Ethereum, News, Investment, Blog, ...

Hey, I'm here again! Yes, the crazy dude who writes stuff on the internet!

Do not forget to follow all my advice if you want to lose your wife because you have put the rent money in "coins that are worth cents but can be worth thousands of dollars"

I'm going to invest! (I thought happily when I decided to take the first step). But I am always a person who likes to prepare to start something.

At first, I started reading investment articles, watching videos, and trying to get a general idea of ​​the various options and strategies. There I began to realize that it was not going to be easy money if I got it and that it might not be a profit and if it was a loss.

When I started to get informed, my interest was focused on cryptocurrencies, but all the indicators speak of very high risk. Knowing a little more and beginning to touch a minimum knowledge, I reached the point where I had to ask myself two key questions:

1- Do I have money that I can afford to lose?

2- Do I think cryptocurrencies will be useful in the future or will they disappear within ten years?

The first question was easy to answer because I don't have money left over, it's a few dollars that I can have left over each month and they never usually reach $100. With the second one I had to compile information again to get MY CONCLUSIONS and yes, I think they will survive more than 10 years.

At that moment I started looking for a way to accumulate all the cryptos I could and also make the effort to put some money little by little. Those were times close to the ATH and from that moment it was already known (if you had done your research) that this year was going to be difficult for the economy in general and cryptos in particular even more.

In those days Twitter was filled with euphoria and everyone recommended buying because it was about to reach 100k, buying because Elon Musk had done it or because your neighbor had become rich. Now that everything has fallen (as expected) and we are already more than 60% down, these same people recommend selling (what???). You can call me crazy because my nickname already puts it but I am looking for capital by all possible means to continue doing DCA (if you don't know what it is, you shouldn't invest, stop now) from here until bitcoin is at 40K. I will be doing this with some of the top 10/20 coins on the market (70% Bitcoin and Ethereum). When Bitcoin hits 40K (I don't care if it takes five more years) it's very likely that I'll start buying small market cap coins because it's also very likely that they won't move up until then (barring some Dump and Pump).

I will also be buying shares in the amount that I can but I will not follow the rules. The option to reduce the risk would be to buy $100 of shares for every $10 of cryptocurrencies but I am willing to take the risk of losing my investment.

So far I was just telling you about my life a bit. The financial advice comes here:

Do your homework and know what you buy, do not use borrowed money or money that you need to use next month or may need during an unforeseen event, if you do not have money, invest time and if you do not have the knowledge, invest more time. Last but not least, don't read a post or watch a video and run out to do the first thing you thought of, research back.

 

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This post was also published in Publish0x by me, The Crazy Dude. You can use this link to win your tips or become a new writer in Publish0x.

 

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Avatar for TheCrazyDude
2 years ago
Topics: Bitcoin, Ethereum, News, Investment, Blog, ...

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