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Ep. 018: Ask Kim: How do I make money on cryptocurrency when prices are going down?

by | May 20, 2018

As we have for the last several weeks, I am going to tackle one of your questions from the Ask Kim mailbag. This one came in a few days ago from Mike about cryptocurrency prices going down. He writes …

Hi Kim How did you do today trading crypto? I have bitcoin and other alt coins and I’m way down so tell me how do you make money owning it Thanks Mike

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In this episode, I cover:

⇒ Don’t play a game, with serious consequences, for money, that you don’t understand

⇒ Trees don’t grow to the sky. There is no such thing as an asset class that goes straight up. Every asset with any return potential has periods of loss, sometimes long and, in the case of crypto, more common than not.

⇒ Manage that risk by making crypto a small part of a diversified portfolio matched up to your objectives, risk tolerance and time horizon

⇒ Decide what you are going to do and when, while you are sane. Then stick to it. 

⇒ Set it and forget it. Don’t fuel fear and greed by watching news or checking prices.  There is no reason to react. Once it has happened, it is already too late anyway.

TO DIVE DEEPER INTO Topics Covered In This Episode:

Ep. 13: Should You Pay for a Cryptocurrency Investing Course? (Sane Crypto Podcast)

Ep. 04: Nassim Talen Interview – Fooled by Randomness (Sane Crypto Podcast)

Bitcoin Bear Markets – Kristov Atlas

Alternative Callan Table of Periodic Returns (RCM Alternatives)

QUESTIONS OR FEEDBACK:

Email: askkim@sanecrypto.com
Twitter: @sanecrypto https://twitter.com/sanecrypto

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