There is not one person on Steemit that hasn't had this thought........
Source: Dr. Emmett L. Brown, Ph.D.
"If only I had a time machine, I'd go back 6 months, 1 year, 3 years, 5 years...and buy the crap out of Bitcoin"
In my opinion, this kind of thinking, while fun to dream about, is extremely counter-productive and will only lead to frustration and cloud your judgement going forward.
There is much talk going around about selling at least a portion of your Gold/Silver and moving it into Cryptos. Whether it be the ever-climbing Bitcoin or an undervalued alt like Litecoin, Etherium, or even a long-shot like Ripple, EOS, IOTA (and the list goes on and on and on).
Well, I can state categorically....THAT IS NOT ME.
I will not part with one ounce of either Gold or Silver or even one single piece of fiat toilet paper to put into Cryptos at these levels.
I managed to mine a few BTC from Mid 2014 through 2016, so any dabbling I do in the crypto space is with "House Money". I'll even admit that I sold a few of my BTC back in May 2017 when BTC hit the all time high of $3,000. I thought I was being clever and taking a little bit of winnings off the table and putting it into Silver. I too can play the 20/20 vision game and beat myself up for not holding it longer, but as I stated earlier that will only lead to frustration and cloud my judgement going forward
There are TWO main reasons why I will not consider swapping Metal for Crypto at this point.
#1 - This Is The Ultimate Sell Low/Buy High Scenario
Gold is stuck in the $1200s and Silver is below $16. BTC is very near it's most recent all-time high. This is a recipe for disaster on the Gold/Bitcoin trade.
Source: https://www.americanbullion.com/gold-vs-bitcoins/
#2 - Vesuvius Style Blow-Off???
I believe there is a massive correction in the very near future for all Cryptos. Nothing goes up forever. Didn't we learn our lesson during the Housing Crisis in 2008 or the Dot-Com run-up in the 90's? Whether you feel the same way I do or not, the chart that follows HAS to at least give you a momentary pause.....
*Source: http://www.ftense.com/2013/11/bitcoin-pushes-to-1240-taking-ride-out.html *
Some will look at this chart and immediately tune it out as FUD, but anyone who has followed the markets for any period of time knows this is not a healthy move up. For years, people claimed "this time, it's different" and we're always proven wrong.
In Closing...
I am not against Cryptos, I just believe that it is not the right move, especially now, to move out of Metals and into Cryptos.
I usually end all of my posts with the following phrase.....but this time I really mean it:
STACK ON!