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I recall being downvoted when I replied to someone asking if it was too late to invest in Bitcoin when it was at $4000. In my reply I quoted Roger Ver by saying
by bitmapbrother 9y ago
I recall being downvoted when I replied to someone asking if it was too late to invest in Bitcoin when it was at $4000. In my reply I quoted Roger Ver by saying that it was never too late to invest in Bitcoin. I also decided to walk the talk and buy some at $4000 with money I could afford to lose. Glad I did.
- acjohnson55 9y agoThat's crazy thinking though. It's only "never too late" if it never stops going up. Just because it went up from $4k doesn't mean that you won. Unless you sell now and walk away. Point is, it's impossible to know if you're leaving money on the table.
- bitmapbrother 9y agoThis is a long term investment for me so I don't plan on trying to time the market or cash out early. I fully expect to see Bitcoin rise above $10,000 in 1 year.
- coryfklein 9y agoBitcoin is a high risk investment. If you buy some today it could go to $1 next month (although as it's years of track record continues to grow this becomes less and less likely). Make bitcoin 1% of your portfolio. If you lose all of it, it's not really a big deal. If one year from now it has grown to 10% of your portfolio, you'll be more comfortable with it and you can sell half and maintain it as 5% knowing that if you ever lose that you are still ahead.