.png)
Hello Reader,
I thought I'd share an update to answer the question everyone is asking at the moment:
"Is it too late to invest in bitcoin or other cryptocurrencies?"
To answer this question, I'll talk to 3 mistakes that I've made in the past at all-time-high prices, so that you don't have to:
- Not allocating at all during new all-time-highs: "It's gone up so much already, I'll wait for the pullback" is a typical thing you hear during these bull phases of the cycle, only to find that not having any position at all is a huge mistake. You want to be in the market whilst it's running up, not watching from the sidelines.
- Overallocating at all-time-highs - whether you have exposure already, or are thinking about gaining some exposure, don't feel the need to invest a large portion of your capital at once. The market invariably pulls back, and so having the patience to add to your positions gradually is a wise move, but make sure you still avoid mistake #1.
- Bitcoin is expensive, I'll buy something else - VanEck's CEO recently forecasted that bitcoin could hit ~$300K USD (A$456k) in the near term and $2.9m US ($A4.4m) by 2050 . Nobody knows how high this can go. Whilst there's cheaper cryptos out there, remember to study their long-term adoption and value proposition. A cheaper option might be cheap for a reason. Manage your risk and investments into alternatives accordingly.
If you'd like to have a confidential discussion about gaining an insured position in bitcoin and other cryptocurrencies, please feel free to reach out by clicking the button below to set up a call or just reply to this email.
Let the bull run.
James
James Brannan
Chief Executive Officer
BlockByte Capital
(+61) 412 393 634
james@blockbyte.com.au
https://blockbyte.com.au/
BlockByte does not provide financial advice. We provide execution support, research and insured custody for investing in digital assets. Reach out to our team to discuss how we can help.
Sign up to receive the latest crypto trends, insights, and news.
.png){kind=logo}