Thursday, 16 November 2017

Cryptocurrency for Dummies - Part 3 (When do you start?)

So part 1 and 2 seem too easy? Alright. You've planned to get yourself started and bought into the theory that it's just the start of cryptocurrency? Or you felt that there's some magical internet money here for you to grab, and why not grab some?

Now, It's time to decide your path. In every investment, there's 3 type of heroes for you to choose.
  1. The Trader
  2. The Investor
  3. The Punter 

Do you enjoy looking at graphs? How about charts and a huge chunk of numbers? Support & Resistance? Indicators and Oscillators? MACD? RSI? Fibonacci Retracement? You know who you are :)

How about those who feel that there's ample of room for crypto to grow? Those who believe that there will be no more fiat and BTC will probably hit 100,000? Ha. I solved your problem. Now you know who you are!!

Those that like to read from others without doing your own homework? Posting and reading in forums? Buying into others belief? Here you go!

Wait a moment. Just before you decide whether to embark on this adventurous journey let's take a quick look back first!

BTC Price over the years:
Price for 1 BTC in 01/01/2011: $0.30
Price for 1 BTC in 01/01/2012: $5.87
Price for 1 BTC in 01/01/2013: $13.56
Price for 1 BTC in 01/01/2014: $761.11
Price for 1 BTC in 01/01/2015: $313.92
Price for 1 BTC in 04/01/2016: $431.73
Price for 1 BTC in 01/01/2017: $1,016.04

Price today: $7,194.03

When BTC is trading at $10, many are speculating that upon reaching the $100 mark, this bubble is gonna burst. Similarly when BTC crosses the 200, 500, 1000, 2000, 5000 mark and now, possibly the 10,000 mark soon.

So is it too late now for you to join in the fun?

Remember Rule 01?
Rule 01: Invest in crypto with what you can afford to lose. 
This also mean that whatever you've invested in cryptocurrency, be prepare to lose each and every cents of it. No leverage. No CFD. Nothing. $500 invested? Prepare to lose that $500 invested. That's the mindset to have :)

If you're able to get through the past few parts, willing to lose each and every cents you've "invested" in the crypto world and chosen your hero.

Now, you'll be able to decide if it's time for you to enter the crypto market :)

Are you ready?

Note: Investing in cryptocurrency is very risky. Please do your due-diligence before any actions. Having that said, I'm prepared to lose every cents that I've input into the crypto world should anything fall through. I do not recommend investing in cryptocurrency.

Cryptocurrency? I'm in too
Cryptocurrency for Dummies - Part 1 and a short story
Cryptocurrency for Dummies - Part 2 (Rules for crypto-investing?)
Cryptocurrency for Dummies - Part 3 (When do you start?)
Cryptocurrency for Dummies - Part 4 (Guide to start investing in Cryptocurrency)

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