Get Rich Slow Scheme
Source: https://digitalik.net/btc/
What do I mean? The Bitcoin halving cycle, of course! Skills required: knowledge and belief in the cyclical nature of the market and HODL.
Time and again I'm surprised by the number of people who are swayed by their emotions triggered by the market and the garbage spewed by some media outlets. Last year, I told a friend of mine about cryptocurrencies and got him convinced of the macro case for Bitcoin. He did a lot of buying between $4,000 and $10,000 using the dollar cost averaging method.
My friend is selling his whole stack now.
It's still remarkable how well he will do compared to most other newbies. He will have made 5-10x gains when he's done selling. A lot of other retail newbies enter the market in the late stages of the bull cycle, buy the top and see 80-99% of the value of their investment evaporate when the bear has run its course. Many of them will sell at the bottom, swearing off Bitcoin - at least until the next bull market.
This is an eternal pattern that repeats over and over again across asset classes, time and space.
Cryptocurrencies are a rare opportunity for those who have lived and breathed the market for a few years. I'm not talking about investing in shitcoins that moon. The problem with them is that they appear out of nowhere, pumped by the founders and disappear as quickly as they appear. It's easy to stay away from them.
I'm talking about being immersed in the market long enough to have learned some key lessons. Trading the cycles can net life changing wealth and all it takes is conviction and psychological distance from the herd.
Posted Using LeoFinance Beta
Getting rich slow is the best way... just buy small amounts of Bitcoin, Ethereum and BNB on the Dips.
Yes, and doing that at the right stages of the market is of utmost importance. You'll have stop buying at some point. It is equally important to identify when the knives have stopped falling and then buy heavily.
Posted Using LeoFinance Beta