As any of you will know, if you have been reading my blog over the years, I always wish you well come Christmas.
I also give you an update of how my year went trading.
Last year was different. Entirely.
I thought it might be wise to avoid saying anything as so many people were struggling with the Covid-19 pandemic.
I know of people that had lost loved ones, lost businesses, and elderly that have lost their already limited social lives.
Peoples mental health has suffered too and that only seems to be getting worse.
Families have struggled to stay together and domestic violence has risen during lockdowns.
Others have lost their jobs and have limited opportunities to find more work.
Coronavirus has bought the world to its knees.
There’s nothing to say that you don’t know already.
So how could I say Happy Christmas not knowing what your personal lives had endured during the last year?
Wishing You All a Fantastic New Year
So before I move on… Can I Say… I hope this year provides you all with health and happiness and also the strength that you need to charge forward and reach your goals.
I’m sure things will be better this year for all of us.
My Trading Year
This was the first year in trading that I thought I might actually be down and in the red.
Most of the year found me clinging on to a very small profit made from Silver and Gold.
I wasn’t even sure if that was going to cover the losses from when I sold all my stocks in the sell off in March.
In hindsight, if I had held onto them [stocks], and knew that the good old USA was going to prop all my positions up, I’d have done OK again.
But here’s the uncanny thing.
If I hadn’t bailed out in March and closed most of my positions I held at Schwab, then I’d have not bought anywhere near the amount of Bitcoin that I did during the year. And I’d have not made as much profit as I have so far.
I used most of my funds from my Schwab account to invest in Bitcoin. I also used cash that I needed to put to work to buy the bitcoin tracker at HL early in the year before the bitcoin halving.
Buying Bitcoin saved the day for me. In fact, it gave me my most profitable year trading ever.
A good year trading is 20% profit. An amazing year trading is 30%+ Last year I made over 200%.
Some may say that I was lucky. But you have to have the belief and courage to invest your money when everyone else is telling you you’re mad.
I have said many times that I believe Bitcoin will reach $50,000. As I write this post, Bitcoin is trading just under $49,000.
I now believe $50,000 to $100,000+ will come over the course of 2021
Of course there will be many ups and downs trading Bitcoin over the coming decade. But I’m happy to ride this roller-coaster. In fact, Bitcoin is becoming less and less volatile and will continue to do so as more and bigger companies invest and Bitcoin payments become widely accepted.
Trading in 2021
Most of my focus will be on Bitcoin over the course of 2021. Unless something changes drastically.
Profitable trading is as simple as waiting.
There is little else I need to or can do other than wait at the moment.
I have also recently started buying Ethereum ETH too. I think that this could also be profitable over the coming year and that we will see it at over $3000 come December.
If you think that you are too late to invest in Bitcoin or even Ethereum, then I think you’re seriously missing the long term outlook. I think this is only the beginning of the new world currency. We have a long long way to go yet.