5 Questions you must answer BEFORE you invest a penny in Bitcoin
Today’s topic is … 5 Questions you MUST answer before you invest a penny in digital currencies
About Me - This is not my first bubble. I am a 20+ year investment industry veteran and critic. I cut my teeth trading options on the Chicago Board Options Exchange many, many moons ago, when it was very much the wild, Wild West, like crypto is to today. I am an author, speaker and inventor of an investment method, which I went on to turn into an award winning investment firm, which I sold last year.
Here is my QOTD: Are you currently invested in Bitcoin? If not, what has has held you back? If so, for how long? Drop that in the comments for me …. That helps a lot to tailor the content to my audience …
And now on to the topic at hand …. 5 Questions you must answer BEFORE you invest a penny in Bitcoin
* Why BEFORE? After you invest, you are insane …
* The 5 Questions:
* Should I invest?
* How much should I invest?
* Which assets (bitcoin/Ethereum/Alt Coins) do I buy and how much of each?
* Under what conditions would I buy more?
* Under what conditions would I sell? (Profit-taking/exit)
* Must have answers AND rationale for them BEFORE you invest
* Goal is to
* maximize profit
* (without hedging mechanisms of more mature asset classes)
* Strike balance between opportunity and risk
* (you and price normalization)
* Best plan in the world is useless if you can’t follow it 😫
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Remember, disclaimer, disclaimer, disclaimer …. Everything is for educational purposes only. Nothing should be considered investment advice. Past performance is not guarantee of future results. All investments involve risk… especially this one! It could go to zero tomorrow, so do not under any circumstances, invest money you cannot afford to lose.