Today I doubled down on Crypto, investing twice the Fiat I already had in the markets. Now that is not terribly much in the grand scheme of things, but it is a significant positional move for me, since I have not bought in with FIAT in probably 3-4 months.
I bought my first Crypto on August 6th, 2017. On that day, Bitcoin was valued at 2838. If I had only known what the market was about to do I would have maxed out my credit cards, but at first I bought in with $100. I've mentioned before that my first purchase in Crypto was a scam coin called Plexcoin, So that's where that hundred went. After that I slowly put in a little bit more here and there. Second purchase was to buy in STEEM, as were many of the other small buy ins along the way. I never really worried about what Bitcoin was doing, because I was just buying the BTC to get it to another asset.
I was basically playing a game of Press Your Luck
Thankfully, due to putting most of that FIAT into STEEM, I haven't had any real whammies yet. In fact, I am up about 20x on my initial investments in terms of BTC value.
There has been plenty of debate as to where the bottom is for BTC on this current pull back. Some people think we have hit it, other people have said it could go to 4000, or, if you want to read some of the garbage from Nocoiners, Bitcoin is headed to Zero.
As for me... something feels different about today. So I bought. I don't know if this is rock bottom or not, but it was the right place for me to decide to load up some of my bags.
So I bought at $8600 (but a lot less than a full BTC), then I did what I always do. I put it in to other alts. This time I didn't invest in anything new (with one very small exception). I increased the size of my bags in crypto I believe in that has suffered through this dip to where I could get really good prices and average down my original investments.
Today's bag increases include:
Dragonchain - Doubled my Bag
VenChain - Added 1/3 more to my bag
Phore - 4xed my bag
PROC - Added 20% more
Added Dimecoin at 1 Satoshi. Bought 250k because they have new management and a new roadmap and why the heck not.
I also found a coin on Cryptopia that I didn't buy but thought about. Slothcoin is 1 satoshi, and I think we could probably take that coin over for Slothicorn if we wanted to. hahaha
I have a couple of orders out there that haven't hit yet, so we'll see how those go. And I am in the process of getting KYC approval for the ICO of BlockEx which is another really good looking platform for ICO review.
I'm not encouraging anyone to go out there and spend money they don't have. and I certainly advise you do your research before investing in any coin. I was comfortable with what I could do today and again, didn't put in anything I couldn't afford to lose. Take a look around... have a garage sale, list some stuff on Craiglist and get some capital to buy in before everything pops again!
We'll be celebrating the new All Time Highs in no time!
Very informative post.
I've invested a new chuck of money crypto 2 days ago 😂 It would have been nice for the bank transfer to take a little more, just saying :))
infomative post .Hope to see more post like this in future#following you dear follow me back :)
Great post @mikepm74! 20x a return on investment is an excellent trade.
There is a market and use for alt coins, I wouldnt be surprised if prices rise a lot. 20x ROI would be perfect!
There is a valid use for some of these cryptos, it's a good time to invest now that everybody is fearful.
Nocoiners don't understand cryptocurrency. I saw investment advice on bitcoin from 10 years ago, looking back now they look like big fools, very funny.
Great read! I keep reading about VenChain. Is there something special about this coin?
I agree, personally I've been waiting for BTC to dip under $8k so when I saw that today I actually felt kind of relieved, I definitely think we're going to see a new recent high coming
Man I have a much more conservative portfolio then you it appears because I've only heard of 1 of the 4 coins that you've bought. Best of luck with your investment and while today may or may not be the low, it's definitely not a bad place to make a buy in for sure.
Congratulations, you bought the dip! I might start following you for investment advice!
What color lambo are you looking for?
yeah uhmmm... you might not want to follow my investment advise. I'm a pretty crap advisor.