I was just working out at the gym yesterday and I saw an old friend that I haven't seen in a while. We were both catching up on how each other were doing when he asked: so what are you into these days?
I told him about the software I've worked on and I also talked about Bitcoin and being involved in crypto. Whenever you say that magic word "being involved in crypto", you always get hit with like 12 follow-up questions.
If you're reading this blog post on Hive, then I'm sure you already know what I'm talking about. People can't help themselves but ask you what you think about crypto, if it's ever gonna go up again yada yada yada.
Is Bitcoin Gonna Go Up Again?
This is inevitably one of the first questions you'll get asked. What normies really want to know about crypto is when they can buy it and when you think they'll be able to sell it for a profit.
It's quite hilarious when you stop to think about it. They could care less for the technology. Could care less for what it offers the world. All they want to know is how to leverage it to enrich themselves.
Nothing wrong with some free market capitalism, just an observation.
My answer? I have no f*cking clue if it's gonna go up down or sideways. In fact, the only thing we know for certain is that it's going to do one of those three things... but if we knew which, then we'd already be rich.
Oh So What Would You Do Then?
I always have a generic answer for this but it is a genuine answer.
It's the same answer I give to all friends and family who want to invest in crypto but don't know when the "right time" is. The answer is that there is no right time.
I always say that you should Dollar Cost Average. Dollar cost averaging ensures that you don't try to time the market.
Afterall, none of us can time the market.
Ask LEO: What's Your Approach?
When someone asks you a question like this... how do you respond? What do you say and what kind of advice do you offer them?