Post
Topic
Board Beginners & Help
Re: I took the wrong advice
by
UsernameCrypto
on 21/03/2021, 15:10:14 UTC
If someone's aim is to make a lot (as in a LOT) of money from BTC, I reckon the ship has sailed.  By 'someone' I refer to those on average or below incomes.

Example, I was going to invest $5000 in BTC in 2017, like a FOOL (with hindsight) I thought it was too expensive so I didn't.  That would have bought me 3.4 BTC, worth $193,800 today if I'd held on to them.

However if I invest $5000 today, that only gets me 0.087 BTC.  So if my calculations are correct, for my investment to rise even to $50,000, BTC has to rise in value to $570,000 i.e. ten-fold.  And to reach a value of $100,000 BTC would need to reach $1,140,000.  Whilst many predict BTC will rise to these values, I'm not too sure.  And if it does, to realise a genuinely large ROI, unless you've already invested earlier you increasingly need to be in a position to inject large sums of cash into BTC.  Doing something like a dollar cost averaging approach of $250 - $500 a month from now isn't going to cut it.  Yes you'll obviously get returns if BTC continues to rise, but not significant returns in the true sense.

Unless you're rich now, you no longer have the sums to inject into BTC that will see you get a good return, unless it crashes at some point enabling average/low earners to buy in.  However you're then dependent on it rising again.