What’s the investing rule?
Well if you are an investor you know about the fact that when taxi cab drivers give you financial advice about some particular stock or asset, you know it’s time to get out.
What’s the problem?
Today a Uber (of course) driver told me that he is thinking to start investing in bitcoin. I cannot not think of the investing rule from above. I started selling a portion of my bitcoins 3 days ago, but it seems that I need to continue :). Besides that, we have also the below graph.
What’s the solution?
I will spread my bitcoins in all of my financial assets that are undervalued, time will tell if I am right or wrong, but even if I am wrong I have a nice profit (in FIAT and also in other crypto currencies).
Don't you think that if bitcoin collapses all other cryptocurrencies will collapse as well due to the nature of how crypto works, since when bitcoin falls in price most cryptos fall in price.
I don't think that if bitcoin falls, the 'other' crypto fall as well. Just like in the stock market bubble some of the companies are huge now, the same applies to crypto, some of them will be around for 20 years from now.