How it can all change in the blink of an eye. I sold all my Bitcoin positions and Ether over this week.
Why? Because I have been making money trading with Vince Stanzione for coming up to a decade… and he sold so I did too.
Why did Vince sell? Because he was happy with his profits and had lost faith in where Bitcoin is heading with the likes of Elon Musk and every other celebrity involved.
He has a point.
And even though I was somewhat surprised at finding myself selling so soon, I’m grateful for the insights that he [Vince] provided me with.
Was I happy with my profits? Yes of course, although I still feel that Bitcoin will reach 100K in the not too distant future, I also think that Bitcoin has a real chance of falling in the near future too. So I decided to take profits now.
I may buy Bitcoin again but I want to take a breath and see where all this is going.
I really think that Bitcoin can give the little guys like us better control over our wealth, but at the moment, a tweet from a prat like Elon Musk can send the market crashing or flying.
That’s just not right. Bitcoin is decentralised and is supposed to stop or at least limit manipulation. But there it is.
What do you think will happen when he [Musk] tweets that Tesla has sold all their Bitcoins? That’s going to be one hell of a correction and that did really start to concern me.
Elon Musk is pumping Dogecoin now over Bitcoin… I mean what the ****
I am a bit gutted that I have sold to be honest. Especially because of the above mentioned moron.
I think Bitcoin is such a fantastic idea, I was ready to hold for years to come; but I’m in the game of profit not crypto. And when your mentor sells you at least have to listen and consider what’s going on.
For now, I am in no rush to do anything fast but I will obviously keep following Vince’s lead and start to invest Via Schwab and probably HL again.
I have also stated looking at spread betting opportunities again over this last week.
I’ll update you soon.