Phone call after phone call... "Did you see the news??! Bitcoin will get banned in China and it is going to crash!"
I must have gotten at least 20 of these calls without even talking about the people who come up to me and talk to me about this topic when they see me.
Okay Bitcoin is in a bit of a storm right now and this news is based on what exactly? At this point, there is a lot of stupid money in bitcoin and those are the people that buy when everybody is exited and quickly sell when news like this comes along. So, they begin to trade and of course they start to lose money and then they say... "Bitcoin sucks!"
when looking at this picture above, it is really easy to say that you should buy in a low point and sell at a high. Now that is pure logic, right?! Is it easy? Hell no! If it was, everybody would do it! So what is the best advice you can give to someone who goes into Bitcoin? That's easy... "Buy and Hold!"
Don't trade your bitcoin, unless you have some profits already and unless you are willing to give up you current profit. Bitcoin will rise ... AGAIN and it will go down as well. Learn to deal with this or get out of the crypto world and wait until bitcoin is worth $ 500.000 (won't be that long you have to wait at all...) and then buy some fractions of bitcoin because by then everyone will use this. Patience is the key word!
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