Hi there,
First, a little about me. I am a first-time investor to crypto. However, I have had a few stocks (Roth IRA stuff) and tech stocks and overall have made the average 8% return over about 8 years. I now have 150,000 to scrape together.
Principles: I have a high risk profile. I am patient up to 10 years. I could buy and hold. I do believe this 2021 is a once in a lifetime year. The gains next cycle will be much less in 4 years.
I do believe that earlier is always better. Did I say I have a high risk profile?
I have a few specific questions and I know it's just your opinions.
1. Starting today on April 10, 2021 if I invested 150k in bitcoin, how much do the gurus expect me to have in 1, 2, 5, and 10 years? Like would any idiot who just invested today and didn't sell expect a 5x increase within the next 10 years?
2. I would use dollar cost averaging, but over what time horizon? Invest 150k over the next six months? Or just invest it all today since we all know it's going up?
3. I could withdraw the old retirement fund and get the initial investment up to 300k. Would you go all in using that? I would not have much of a backup plan for retirement if this is the case, but like I said I have a high risk profile. I do believe this is once in a lifetime.
4. If I want to pursue some alt coins, and again, I have a high risk profile, what % mix would you recommend? 33% alt-coins and 66% bitcoin, or 50-50, etc?
Thank you!!
BUY HIGH, SELL LOWER
Welcome to Bitcoin
SUCKER
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Had you 'invested' doge or shiba back in early april you would have gotten your 10x, bitcoin would have to go $500k to get 10x out of that bitch, the capitalization, would have to go to $15T USD, about the same size as USA economy. Why in hell does irrationality dominate btc? Had u 'invested' in btc in Early april, today you would see a 25% loss, enjoy the ride to hell.
'cash is trash' to quote dalio; nobody on earth knows where to put his cash these days, best is to diversify,
anybody who think they can get 10x is a 100% moron, you need to study history, sure if you dabble in 100 things, u might have one 'ten bagger', but its what they call a tail on the bell-curve, smart people know they're lucky to get 5% risk-free, that is doubling every 12 years, 2x; so you get your 10x at about 24-36 years. 2x,4x,8x,16x
In crypto, 90% of all who play, lose 100% of their stake the first 90 days, FACT
This site is largely paid influencers, and old-timers who just enjoy the ride. Crypto is a hobby for most, hell it can go down one year 90% and then back up 10x; Of course right now we're at a high, so this is a terrible price point to jump in, biggest problem is most people can't be patient
"A fool and his money are soon departed" the truest words in human finance.
If it were easy to get rich, everybody would be rich ( they're not ), most people who come into money lose it the first few years they obtain it, guys that don't spend money, are the ones who accumulate. Buy say 90% of your cash in BRK.A, and take 10% and buy stuff like doge, shiba, & ilk its the penny alt-coins that go up 10x in crypto; learn something, if you still like the game then stick around, if you lose your $10k the first 90 days like 99%, then quit while your ahead.