Is it still a smart move to invest in bitcoin?
A friend asked me is it still a smart move to invest in Bitcoin?
He was referring whether he has missed the boat and my answer was something like the following.
That depends on your Investment timeframe.
The answer for a 2 week timeframe would be different to 20 year timeframe.
Looking at this chart you would think price will retrace back at some stage.
So if you aren't that committed and would feel sick if in 2 weeks time you had lost a large chunk of money then I would say NO its not a good time to invest.
If however you think Bitcoin and the blockchain is a disruptive technology that will revolutionize the planet and infiltrate all aspects of society then YES, now is a great time.
Its still early days for crypto which I think will be BIGGER than the internet.
Let me know what you guys think!
I think it's too late to make real good profit, it was interesting when the BTC worths less than 1 Dollar, now you can invest in BTC as normal forex asset and try to buy or sell as the market goes up or down. Cheers
I agree with you. But I would hesitate to get into Bitcoin until things have settled down. Essentially, there are going to be four types of Bitcoin, so ... ? How will this affect it? Other than that, @haejin has excellent Technical Analysis videos to time entry to the market to time entry to the market....