Don't mean to alarm anyone, but I'm started to get typical signs of the top, almost daily. You know what I'm talking about right?
Sudden Phone calls
This weekend I've probably had three phone calls from people I've not spoken to in years. I mean, they may be friends and all (and a family member too), but you could say we aren't the closest.
Happy to hear from them, no doubt, but at the same time it reminded me of 2017 when I was having similar conversations.
Friend: This bitcoin thing is real, how do I buy it?
Me: well, it's high risk and it's a long term thing... Do you understand it.
Friend: Not really... but... I can be rich.
What I learnt
I don't give people financial advice anymore. I don't think I've told a single person who has mentioned bitcoin, or any other coin to buy. Why? Well, because I don't think them ready.
You see, the people who are right now interested, are those who probably don't understand it, nor care to do so. Why then would I risk giving someone advice knowing it can backfire?
I'm honest when I say we might be getting close to the top. I don't particularly think it's today. But, then again I could be wrong about that too.
Don't feed greed goblins
Is my new mantra. I won't make someone get into crypto so that when it corrects, and for sure it will, they think of me as a scammer or a bad friend. I just won't do it.
Who knows where the new top will be. It could be 100k as some say, but I know that if someone who knows nothing about crypto buys in today, they will expect it to go to a million in weeks, and it's likely to ruin friendships.
MenO