You may have heard that Bitcoin has now hit over the 60,000 mark and on its way to 70.000.
Well it might do that but its not likely to do that in the next month.
(Of course you never know)
The exact amount was somewhat north of that 60 mark to about 60438 or thereabouts and if you are just tuning into Crypto be CAutious!
Yes, its up and Yes, it may keep going up but it also comes down.
We have seen it many times over the last few years.
It might be 60 today but tomorrow it could be 45,000
It’s not likely but it certainly could be.
You see there is a lot of excitement about BTC and that makes people want to buy it.
The more buyers there are the higher it goes.
The thing is some people are thinking that hey this thing could go to 100,000 and I could double my money.
Well, you could but you could also lose part of all of your investment and that is standard boiler plate legal terms but you know what when people read that including you and me, we do not think that it will ever happen to us.
What we think is that it will not happen to us because we’re smarter than those people who lose money and that might be true in some cases but eventually if you make enough mistakes you will go for a ride and it’s not the good kind of ride either.
This is not financial advice, nor should it be considered a suggestion it is just an opinion and an elaboration that carries little or no real value except that you should always consult with a professional when deciding to invest or to not invest that is a decision best made with valid licensed professional assistance. (This way you have someone to Yell at and to blame if (God Forbid) something does go south on you)
Given the nature of how this works there are some people that are doing ok and some that are not doing as well.
You just have to do the research and be on the lookout for stumps that might show up in your way.
But most of all do this with money that you can afford to lose because you might lose it.
Just ask yourself if something happened and this money was gone would I find myself in a bind?
Sure you would shed some tears and go through all the stages of monetary grief but in the end if you lost a few hundred bucks would you have a hard time paying bills?
That is the real question you need to find out when you first start to think about investing.
That is why you need to have someone that is licensed to help you out because they will take you through what you have and what you spend and what you have saved and IF it makes sense for you to even get started.
If you are going from paycheck to paycheck barely scraping by it really does not make sense to try to invest because your not in the right place financially, (disclaimer, this is not financial advice)
You can always do some research about budgeting what your spending now and how you can make changes that would put you into a better financial position.
I recently saw a post in a forum where this guy said that he Quit Smoking and that now he puts all the money that he used to spend on cigarettes, into bitcoin.
Ok, That is a good example of thinking outside the box.
Chances are you can find with help other ways to do the same thing.
Instead of buying $6 dollar coffee every day, drink water, or brew your own coffee.
See the forest, now see the trees.
That is still not advice, it’s just a clever method of modality.
Forest Meet Trees. . . (could not decide between them) so you get both at the same time. . .