Buy Bitcoin

If I Had to Choose – Why Bitcoin?

I had an email recently asking me if I had one trade I could make and hold over the next 10 years what is it that I’d buy?

It’s actually a really good question but one that is flawed too.

I’ll start by explaining the flaw.

I have never put all my eggs in one basket in trading.

Roughly speaking, out of 10 trades I’ll have maybe 4 losers or break evens, or very small losses. A couple may move in the right direction but not very much. The remaining tend to soar and make the gains.

Trading like this helps me balance my portfolio.

I have never just traded one market or sector.

 

If I had a Crystal ball

Why Bitcoin

 

However, if I had a crystal ball when I first mentioned Bitcoin almost 8 years ago [you could mine it yourself in those days and it was under £500 a coin] I’d have bought into Bitcoin with whatever I had and held it.

But even if you had bought bitcoin at $2000 when everyone said it wasn’t going any higher, you’d still be laughing today. So why not buy now? There is still plenty to come.

I stated way back that I think bitcoin will reach $50,000 a coin. And I do still believe that today. Many think it is going to go way higher.

And if you are buying bitcoin now at todays price, you could be in for one awesome ride up.

So in answer to the question, if I had to make only one trade and hold it for the next 10 years it has to be bitcoin.

 

Why Bitcoin?

For me, I have seen over the last year that the markets can be manipulated on even the largest of stages [The Dow]. Yes, I have still been trading during this year, but not like previous years. It has been a very quiet one for me, although still making a small profit overall.

Vince Stanzione advised not going to the party [trading too much] and I have done just that.

But through all of this year, it is bitcoin that has stood up to the onslaught without any market manipulation. Yes, it sold off like everything else at the start of the Coronavirus pandemic, but it bounced right back and showed strength.

For me bitcoin is a true buyers and sellers market, no outside manipulation is moving the price. Bitcoin is decentralised and can’t be censored or influenced. It just is what it is. That’s why Bitcoin stands out so much to me.

My own personal opinion of Bitcoin is also based on most of these points and have been way before this article was written.

I learnt a lot more about why Bitcoin will rise at Vince Stanzione’s Crypto Seminar back in 2017.

 

Bitcoin Tracker and Wallets

 

I have bought the bitcoin tracker at HL and I’m also buying Bitcion in stages Via BitPanda and Kraken.

I’ll either sell half of all my positions when the price reaches $50,000 and leave the rest in there, or I will sell half whenever my initial investment has doubled.

To me, I believe this strategy to be a safer and more sensible option than keeping funds in the bank, especially if we go into negative interest rates!