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RE: Bitcoin Touches $6K - Rumors Of Lexiconical's Demise Are Much Exaggerated, Unlike My Portfolio
I think it's been said before (by those wiser than me), but here it is anyway for the hell of it.
Don't invest anything you aren't willing and able to lose into crypto, because there is a possibility you could lose it all. The crypto markets are highly speculative.
There I said it.
And that said, I've been watching the $6,000 level for potential support and a rebound, but if that support is broken the next stop could easily be in the $3,600 range.
"Don't invest anything you aren't willing and able to lose"
I'd say this goes for every single investment. If you don't want to lose it, you need to SAVE, not INVEST.
They're different.
Certainly that's true of every single investment, but there's a continuum of risk to consider in your investment strategy as well. Crypto investing carries significantly more risk than bonds for instance, although there is certainly a wide continuum even within that investment category.
Saving is all well and good, except then you're simply losing value to inflation. And yes I agree they are vastly different.
And I see we hit a low of $6,048.26 today and are currently in the green back over $7,000. Close enough to $6k for me and pretty damn lucky call, although I'm not saying that was 100% for certain the bottom.