Lets talk about what happens if Bitcoin crashes.
Because with all of this growth – it will either
1. keep going,
2. retrace a little bit before the next run (which is what we’ve seen so far) – or
3. it will drop down somewhat.
So with the first two are easy. Buy Bitcoin. Let it ride.
The 3rd one is slightly harder.
My goal has always been to buy and hold for the long term (long term here is 2 years – It’s Bitcoin – it goes at the speed of light)
And when I wake up in the morning and I check the Bitcoin price, i’m frustrated that it’s gone up so high (Because I want more dammit!)
So if it does drop, the strategy for more is to buy more.
At a cheaper price.
Because I’m in it for the long haul – not ‘fly by night’.
I eat, sleep and drink Bitcoin – just like I did when I started in Property 20 odd years ago.
And I’m not done yet – not by a long stretch. If anything, I realise I could have brought on MORE people who wanted to buy Bitcoin and get some excellent returns – if only I wasn’t so bloody lazy these days.
Don’t get me wrong – I LIKE lazy.
I LIKE getting up and watching last nights NBA game.
Spot of Xbox never harmed anyone (Actually it probably has!)
But there are all those people out there who need to change in their way of life, and Bitcoin has been it for so many people (I see them in the main USI group – their successes have been commendable)
So – my strategy with Bitcoin in a nutshell.
1. if it goes up. Buy.
2. If it goes down before going up. Buy.
3. If it goes down and doesn’t go up. Buy more.
In it for the long term.
If all you’re doing is dipping your toe, all you’ll get is a wet toe.