Bitcoin bandwagon.........

[Simonslimline]

Dropped to its knees at £ 4, 000 on Feb 6th
Currently still rising at £ 6, 100 on Feb 13th

Bitcoin is fighting back
The value of my coins are on one big roller coaster

Litecoin shot up considerably today.
Nice profits this week

 

[Squid]

Soooo how much is Bitcoin at the mo?

 

[Simonslimline]

Soooo how much is Bitcoin at the mo?

A little shy of £5000. It is most likely going much lower in the near future. Still in a Bear market.

 

[Squid]

Looks like a few people took a hit then when the price collapsed.

 

[Simonslimline]

Looks like a few people took a hit then when the price collapsed.

Yes i would certainly expect so. The crypto market is very volatile hence it being so good for traders.

Holding crypto with no education on the market at that point is very risky. However, studying market structure and learning Technical analysis and fundamentals is key for profiting.

Once Bitcoin does bottom out on this market cycle and the trend reverses we will see it fly again. If you look at the Bitcoin chart on a longer timeframe like 1 day or longer it is clearly showing a bull flag.

The cycle will repeat its self over and over creating lots of winners and also lots of losers as its a zero sum game.

 

[Nigel]

Looks like a few people took a hit then when the price collapsed.

Only those stupid enough to purchase when it went very high.

Still way up if you brought it before then.

 

[hnynalmshrf]

A lot of people have jumped on the bandwagon and made some serious cash, but it's important to remember that investments can be risky.

 

[Marilami]

What would you guys say about Bitcoin today? Would you still invest in it?

 

[MJPD29]

What would you guys say about Bitcoin today? Would you still invest in it?

No

 

[LukeD]

No

I know one young guy that dipped into it when it first came out . Lost interest but did not lose his account/password .Retired at 41 years old and wont ever need to work again. Bought 3 x houses in UK and rents them out .Lives in Vietnam , Only rents there. Has a very good medical insurance package . Goes skiing in france every year etc . I Know of many that are up to their eyes with 40-50k 's worth and telling everyone they are going to make millions ...funny how they cannot seem to sell etc The cleverest money people I know never touched it .

 

[nicebutdim]

I know one young guy that dipped into it when it first came out . Lost interest but did not lose his account/password .Retired at 41 years old and wont ever need to work again. Bought 3 x houses in UK and rents them out .Lives in Vietnam , Only rents there. Has a very good medical insurance package . Goes skiing in france every year etc . I Know of many that are up to their eyes with 40-50k 's worth and telling everyone they are going to make millions ...funny how they cannot seem to sell etc The cleverest money people I know never touched it .

Quite a few people made huge amounts by investing a relatively small sum early on, which they forgot about for some time.

Anyone wanting to make large sums from bitcoin these days needs to invest large sums and hope luck is on their side.

 

[mattybram]

I gambled a little money on Bitcoin and Etherium.

As with all my investments, I never try to time the market. I just purchased when I had a little spare cash. Turns out I couldn't have timed it worse...it's all tanked by about 70%.

...this is why you never invest what you can't afford to lose.

(FYI I haven't sold any of it...so in theory I haven't actually lost anything yet.

Luckily my approach of not timing the market has paid off much better (so far) in index funds haha

 

[OnlQQker]

You can acquire crypto simply by becoming part of there Discord groups and engaging. I make Gifs sometimes and videos. Others do nothing but beg, and that works as well.