You are viewing a single comment's thread from:

RE: Bitcoin ATH Over 5500 USD - Lets See The Markets

in #bitcoin7 years ago

Hi @enjoy-lifestyle,

I see so many of these I have X and want to invest in something. Ask yourself honestly why do you want to invest now? Is it because you see everything up and don't want to miss out? Or do you honestly believe in the tech, the teams, the roadmaps, the communities, etc, etc

First you have two timelines - you only want to invest for 1-2 months but believe in the long run of 5-7 years. These seem contradictory. Personally, I would never invest anything for a day that I wouldn't be prepared to hold for 2-3 years.

Secondly, a shorter time span between buy and sells is much more riskier than over a long term. This is true for any asset class - shares, bonds, and especially crypto. Check the history of coin you are thinking of investing and see how it has performed in the past 3 months for a 1-month time window vs the same coin over a 12-month time window. Are you prepared to take the risk?

I would recommend, spending some time, doing your research and only investing what you can afford to lose (be that in 1-2 months or 5-7 years). Think if you lost this 10k tomorrow, would you be OK with it or will you need that money? There are no "sure-things" in crypto.

Hope this helps and gives you some thing to consider before jumping in,

Cheers

P.S. I'm not a financial adviser and this in no way constitutes investment advice.