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RE: Get Ready for a World Currency
i am grateful for your info - i havent bought any crypto yet but i have around $500 in both gold and silver and keep a collection of gemstones -- time to learn about crypto and have a go at some cheaper ones - i am happy to support you by following now
We are probably getting closer to a blow off top for cryptocurrency, so I would suggest buying a little bit every month or two over a period of 6 months to a year or more. So that in case we get a significant decline in prices, you will not be deeply in the red for as long as it might take for the markets to recover. Last time crypto peaked in 2013, then we had a two year period that the price languished.
Yet I would start accumulating, because none of us can predict the price with certainty. I can just state with high confidence that over the next 2 - 3 years, cryptocurrency prices will be higher than they are now and that cryptocurrency will appreciate significantly more than precious metals.
Cryptocurrencies are very volatile. And the smaller marketcap altcoins are even more volatile than Bitcoin.
One activity that has been very profitable is buying altcoins at their inception and hodling them for a year or two until they finally get pumped up price. A lot of 10X gains have been made by speculators that way. I suppose that could cease to be a good strategy at some point in the future, but afaics it is still in play as of now.
As in all investments, do not invest too much in what you do not understand well, i.e. as you accumulate then learn more about the technology and the features the market is interested in.
My next blog will probably be about the anonymity technologies for cryptocurrency, which is an area that I am somewhat expert.
good advice - i really appreciate it