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Bitcoin for many has been almost like a curse word. Many has lost thousands and thousands of dollars in Bitcoin. Some people lost their life savings, retirement funds and etc. But at the same token Bitcoin has made some folks filthy rich. But after reaching $19,700.00 per coin in 2017, the market came crashing down in 2018, taking everyone who was holding this coin and any other cryptocurrency down with it.
Now in June 2019, Bitcoin has crossed the $10K mark once again. The buzz...
Should I buy or should I sell...
Unfortunately there is no cookie cutter answer for that. Everyone has their own goals, risk tolerance and time horizon.
It's really going to depend where are you in life.
For those who got taken down in the crash and now you are almost back to where you started, you know how you felt seeing your value depreciate in the quickness. If you couldn't sleep at night, you lost weight , your relationship(s) became strained, this may be the time to take your money out and find another investment that is more suitable for you.
For those that have the stomach for the fluctuations, hang on for the run and see what happens. You've held on this long you might as well see your game plan through.
Should I buy now? If you understand the concept of cryptocurrency and the "long term" perspective of it, then why not? Understand if you're thinking that you're going to get rich overnight, I am here to tell you most likely that's not going to happen and you're investing for the wrong reason. If it happens overnight, great, but don't go in with that expectation because you may get disappointed and you may even lose. Think "long term" and invest accordingly.
Understand, whether it's Bitcoin, Litcoin or Steem. Most can never time the perfect entry or exit. You have to believe in what you are investing in and just don't be greedy. This is not investment advice, but just a simple strategy. Dabble in it. Once you've doubled your money, take your principle out and allow the money to work. If you are confident and enjoying the returns invest more.
Bottom line there's no cookie cutter answer. Invest at your own risk. Invest responsible and good luck!
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