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Thread: Should I invest my money on Bitcoin?

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    Quote Originally Posted by michal3141 View Post
    Yes. I bought some altcoins years ago. Hard to believe but I am still on -40% because I bought them in a very wrong moment. Luckily for me my loss on crypto is about 1-2% of my savings so it does not matter that much.
    I used about 8-9% of my saving for this. Not too big but also not too little. In second case I would invest too risky and without any fear of loss.

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    Quote Originally Posted by catgeorge View Post
    Gamblers paradise.

    If you want to invest some important tenets

    1. You invest in a business and not the price
    2. If you can't stomach 50% losing positions then it's not for you
    3. Investing requires research that means buying an asset below value and hold for a long time - it's the only way to make "good" money by investing
    4. People may agree with you and people may disagree with you but in the end it depends whether you are right
    5. Stay away from hot stocks - stay away from the media and what they say. Develop your own investment thesis.

    For students of the markets - Bitcoin is a little bit like Tulips.
    Fully agree. When media says it's time to buy something then you should sell.

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    Quote Originally Posted by michal3141 View Post
    Yes. I bought some altcoins years ago. Hard to believe but I am still on -40% because I bought them in a very wrong moment. Luckily for me my loss on crypto is about 1-2% of my savings so it does not matter that much.
    Because you are supposed to hold the likes of Bitcoin and perhaps Ethereum, while the rest are meant to be swing traded. I'd personally get out with what you have and put it in something with a lot of volume, but which recently dipped. Should return that lost value in a couple of days at most.

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