Bitcoin dropped from right at 3000 to about 2500 and ethereum dropped from 400 to about 350...
But that's kinda been the trend all along...huge gains followed by sizeable drops while it builds towards a new high.
Talk to me guys....
Is this the best time to jump with a big purchase? I've got about 6k sitting around that I'm thinking of throwing it all into a combo of bitcoin/ethereum.
What's the talk of why this drop happened? [Reply]
Originally Posted by BossChief:
So Bitcoin and ethereum took sizable drops today
Bitcoin dropped from right at 3000 to about 2500 and ethereum dropped from 400 to about 350...
But that's kinda been the trend all along...huge gains followed by sizeable drops while it builds towards a new high.
Talk to me guys....
Is this the best time to jump with a big purchase? I've got about 6k sitting around that I'm thinking of throwing it all into a combo of bitcoin/ethereum.
What's the talk of why this drop happened?
Just natural correction. These things don't go in straight lines. [Reply]
I don't have a problem with people going in on this. Definitely risky but I am starting to understand it more and appreciate some of the posts in this thread for that.
I would recommend no more than 10% of your "investment" money in this sector though. Don't tech bubble yourself like many people did decades ago. [Reply]
Originally Posted by lewdog:
I don't have a problem with people going in on this. Definitely risky but I am starting to understand it more and appreciate some of the posts in this thread for that.
I would recommend no more than 10% of your "investment" money in this sector though. Don't tech bubble yourself like many people did decades ago.
Bubble or not , timing is everything. My BIL got a good reward in the tech bubble turning $500 into $25,000 [Reply]
Originally Posted by Hog Farmer:
Bubble or not , timing is everything. My BIL got a good reward in the tech bubble turning $500 into $25,000
Oh definitely. My main point is timing IS important but so is limiting the initial investment as well. I wouldn't be taking 50% of the current money in my brokerage account and moving it to cryptocurrency.
What your brother did was make money but he had a limited initial investment. That's my preference for high volatility items and things like penny stocks. I've read stories about others who weren't as conservative and lost big money when tech was big. Speculating is risky and should not be considered "investing." Only a small percentage of your portfolio should be left for speculating. [Reply]
